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2015 (9) TMI 1395 - HC - Income TaxPenalty under section 271(1)(c) - whether amounts disclosing after search, which was not previously offered to tax is not a concealment on the part of the respondent/assessee ? - Held that:- The manner in which the income was derived has also been disclosed and the assessee has thereafter paid the tax and the applicable interest, thus all the requirements of the clause were met by the assessee and, therefore, the correct view of the matter in allowing the immunity and upholding the setting aside the order of penalty passed by AO. See Commissioner of Income-Tax, Central-I, Kolkata vs. Amardeep Singh Dhanjal [2013 (2) TMI 291 - CALCUTTA HIGH COURT ] and Commissioner of Income Tax, Central-III, Kolkata vs. Brijendra Gupta [2015 (7) TMI 451 - CALCUTTA HIGH COURT ] - Decided in favour of assessee.
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