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2012 (7) TMI 550 - AT - Income TaxPenalty u/s 271(1)(c) of the I.T. Act - penalties on additional income offered in the respective returns filed by the assessee in response to notice u/s 153A of the Act – Held that:- Penalty u/s 271(1)(c) is not imposable where there is neither concealment of income nor furnishing of inaccurate particulars of income in return filed u/s 153A of the Act - concealment of income is to be determined with reference to the return of income to be filed in response to notice u/s 153A of the Act. Once returned income filed u/s 153A is accepted by the assessing officer it can neither be a case of concealment of income nor furnishing of inaccurate of particulars of such income - appeals of the assessee get accepted
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