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2012 (5) TMI 188 - HC - Income TaxDeletion of penalty imposed under section 271(1)(c) – Held that:- Found by the Tribunal that all the figures of the earlier years losses were available with the Department and as such it cannot be said that there was any deliberate attempt on the part of the assessee to furnish inaccurate particulars - the explanation given by the assessee that it was a case of human error while preparing Schedule 6 and as soon as the mistake was detected, the figures were rectified was not any attempt made by assessee to justify the figures mentioned in Schedule 6 filed along with the original return and the Assessing Officer himself admitted the fact – Tribunal rightly held it is not a case either of concealment of income or of furnishing inaccurate particulars – in favour of assessee.
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