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2016 (9) TMI 1266 - AT - Income TaxPenalty u/s 271(1)(c) - whether the assessing officer is entitled to levy penalty on another limb of sec. 271(1)(c) of the Act when the penalty proceedings were initiated on a different limb? - Held that:- We notice that an identical issue was considered by the co-ordinate bench in the case of Dharni Developers (2015 (9) TMI 57 - ITAT MUMBAI ), wherein the contention of the assessee was accepted wherein held penalty proceedings initiated on the ground of "furnishing inaccurate particulars of income", imposition of penalty on the ground of "concealment of income" was not justified. Thus the impugned penalty is not sustainable. - Decided in favour of assessee.
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