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2013 (12) TMI 1418 - HC - Income TaxPenalty u/s 271(1)(c) - Held that:- The assessee has himself disclosed his additional income vide letter before passing of assessment order - Following Commissioner of Income Tax, Ahmedabad Vs. Reliance Petro-products Private Ltd [2010 (3) TMI 80 - SUPREME COURT] - There has to be concealment of the particulars of the income of the assessee and secondly, the assessee must have furnished inaccurate particulars of his income in order to be covered u/s 271(1)(c) - The assessee himself disclosed the value of land and calculated long term capital gain - Decided against Revenue.
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