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2015 (12) TMI 1592 - AT - Income TaxPenalty u/s 271(1)(c) - no return of income was submitted by the assessee for the assessment year under consideration - Held that:- Concealment of particulars of income, if any, has to be seen with reference to the return and not in any other manner and as that where no return is filed, it cannot be said that assessee had concealed the particulars of income. The context in which language used by the Legislature showed that it is the act of commission of default which is subject to penalty and not the act of omission. Explanation 3 to section 271(1)(c) of the Act, is not applicable to the existing assessee. See Yeshwant B. Chigteri Versus Assistant Commissioner Of Income-Tax [1999 (12) TMI 137 - ITAT PUNE] - Decided in favour of assessee
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