Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (10) TMI 1427 - AT - Income TaxPenalty u/s 271(1)(c) - disallowance of commission - CIT(A) deleted the penalty - Held that:- There is no finding that any details supplied by the assessee in its return of income are incorrect or erroneous or false. That merely because the claim of commission is disallowed by the Assessing Officer and upheld by the appellate authorities will not amount to concealment of income or furnishing of inaccurate particulars of income of the assessee. In view of the above, in our opinion, the CIT(A) rightly cancelled the penalty relying upon the decision of Hon'ble Apex Court in the case of CIT Vs. Reliance Petroproducts Pvt. Ltd, reported in [2010 (3) TMI 80 - SUPREME COURT] - Decided in favour of assessee.
|