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2012 (9) TMI 283 - ITAT, AMRITSARPenalty u/s 271(1)(c) - dis-allowance of alleged excessive salary - assessee contended that AO has wrongly mentioned in the proceedings dated 28.12.2007 regarding confession of dis-allowance and addition in dispute, whereas assessee has not made any confessional statement before the AO - Held that:- It is found in assessment proceedings especially dated 28.12.2007 that neither the assessee nor his authorized representative has signed the proceedings in which the assessee has admitted for disallowance of the amount in dispute. Almost in each and every assessment proceedings, the assessee or his authorized representative has signed. But on 28.12.2007, the same are not there, giving benefit of doubt as well as the plausible explanation given by the assessee on the addition in dispute that penalty has been wrongly confirmed - Decided in favor of assessee
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