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2010 (1) TMI 870 - AT - Income TaxPenalty - expenses incurred by the assessee is genuine whether it is for speculative business or non-speculative business - assessee has filed all particulars of income which were necessary for determining total income - assessee was of the view that the expenses related to own share trading/speculation business activities were negligible, therefore, apportionment of expenses toward own share trading/ speculation business was not necessary - Whereas the Assessing Officer was of the view that apportion of expenses in between speculation business and other business were required and he do so on the basis of particulars filed by the assessee – Held that:- Merely the Assessing Officer and assessee were having different views that does not amount to a case of furnishing inaccurate particulars of income, penalty provisions under section 271(1)(c) are not applicable, appeal of the revenue is dismissed.
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