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2012 (6) TMI 441 - AT - Income TaxPenalty - penalty proceedings under s. 271(1)(c) of the Act were initiated and notice under s. 274 r/w s. 271 of the Act was issued to the assessee for furnishing inaccurate particulars of loss - AO categorically stated in the penalty order that "The assessee has not discharged its onus that the wrong/inadmissible expenses is a bona fide mistake rather than done intentionally – Held that:- in the case of Reliance Petroproducts (P) Ltd. [2010 (3) TMI 80 - SUPREME COURT ] mere making of the claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding the income of the assessee. appeal is dismissed
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