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2012 (6) TMI 469 - HC - Income TaxPenalty u/s 271 - concealment of income - held that:- the assessee was having excess stock of first and second class bricks which was not accounted for in the books of account. - It is true, as contended by the learned authorised representative, that penalty proceedings are different from assessment proceedings and the confirmation of addition in question does not lead to automatic con- firmation of penalty. In such circumstances, the onus is on the assessee to prove that the mischief of section 271(1)(c) is not attracted. - deletion of penalty by the first appellate authority was not justified.
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