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2015 (10) TMI 1715 - AT - Income TaxPenalty u/s 271(1)(c) - furnishing inaccurate particulars and concealed the income - CIT(A) deleted the penalty - Held that:- The Tribunal in quantum matters in the case of the assessee [2015 (10) TMI 1743 - ITAT JAIPUR] has allowed the appeal of the assessee by deleting the addition. Since the addition made by the AO, no longer survives, no penalty is leviable on the assessee u/s 271(1)(c) of the Act. The ld. CIT (A) also deleted the penalty imposed @ 200% of tax sought to be evaded of ₹ 10,94,116/- under section 271(1)(c) of the Act after discussing the matter at length. In view of the above facts, we uphold the order of the ld. CIT (A). - Decided in favour of assessee.
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