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2010 (11) TMI 806 - HC - Income TaxPenalty u/s 271(1)(c) deleted by ITAT - Held that:- As the assessee had the bona fide belief as to the taxability of enhanced compensation and interest thereon disregarding the fact that breach of a civil obligation attracts levy of penalty whether the contraventions was made by the defaulter with any guilty intention or not as willful concealment is not an essential ingredient for attracting civil liability as in the matter of prosecution u/s 276C as held in the case of Union of India and others vs Dharmendra Textile Processors and others [2008 (9) TMI 52 - SUPREME COURT]- As revenue fairly states that the matter is covered against the revenue by order of this Co[urt in CIT v. Fateh Sigh (HUF)[2010 (7) TMI 849 - PUNJAB & HARYANA HIGH COURT] - appeal is dismissed.
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