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2011 (4) TMI 648 - HC - Income TaxPenalty - penalty in respect of the stamp duty and registration charges which was not disclosed in the returns filed by him - explanation offered by the assessee was that he had sufficient income, he is an individual and he is not expected to file the schedule showing these particulars and there was no intention to avoid payment of tax - assesses is a mining contractor He has purchased the property and got it registered - His returns did not disclose the source from which the registration charges was drawn - Though he is an individual and he is not expected to maintain accounts showing the current assets and liabilities, income etc., his explanation that he was innocent and he was not aware of the legal requirement cannot be accepted - it would not constitute a ground not to levy penalty and finally - it would not constitute a ground not to levy penalty - Appeal dismissed thus.
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