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2011 (6) TMI 227 - HC - Income TaxSearch and seizure - Penalty - Addition - Concealment of income - mere omission or negligence would not constitute a deliberate act of suppressio veri or suggestio falsi - Mere making of a claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding income of assessee and such a claim can not amount to furnishing inaccurate particulars - The prima facie satisfaction of the Assessing Officer that the case may deserve the imposition of penalty, can be discerned from the order passed during the course of assessment proceeding - It is also because the question of law on which the appeal was admitted was under Section 271(1)(c) and not under Section 158BFA(2) of the Act - Decided against the assessee
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