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2013 (12) TMI 141 - HC - Income TaxPenalty u/s 271(1)(c) – Held that:- Following CIT vs. Suresh Chand Mittal [2001 (6) TMI 63 - SUPREME Court] - The return of income filed in response to notice under section 148 the assessee has already declared the income sought to be taxed - It does not amount to concealment of particulars of income. When the income itself is declared, there is no concealment about it - Even though in the original return, claim of long term capital gain was made, yet the assessee much prior to the notice issued u/s 148 of the Act had surrendered the amount of such long term capital gain and paid tax amounting to Rs. 3 lakhs voluntarily – Decided against Revenue.
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