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2014 (5) TMI 769 - AT - Income TaxDeletion of penalty u/s 271(1)(c) of the Act Agricultural income added in revised return Held that:- Unless actual concealment of income or furnishing of inaccurate particulars of income is found from the return of income, penalty cannot be imposed - the assessee has made complete disclosure of income in the revised return and the AO has also accepted such income, provisions of sec. 271(1)( c) will not be attracted as imposition of penalty u/s 271(1)(c ) can only be considered on the basis of income tax return Relying upon Commissioner Of Income Tax Versus Suresh Chandra Mittal [2001 (6) TMI 63 - SUPREME Court] - when income declared by the assessee is accepted no penalty can be imposed u/s 271(1)(c) of the Act the order of the CIT(A) is upheld Decided against Revenue.
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