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2009 (11) TMI 639 - HC - Income TaxPenalty - penalty for concealment is leviable under section 271(1)(c) if the assessment is based on estimate basis - Held that:- invocation of penal provision, which requires concealment and inaccurate particulars is unwarranted in the facts of the present case. Even in Union of India v. Dharamendra Textile Processors(2008 (9) TMI 52 - SUPREME COURT), Supreme Court has observed that the finding as to suppression or inaccurate particulars in the return are necessary for attracting the penal provision under section 271(1)(c) of the Income-tax Act, 1961. no illegality or irregularity in the order of the Tribunal, so as to warrant interference by entertaining these appeals. tax case appeals are dismissed.
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