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2015 (11) TMI 799 - HC - Income TaxPenalty under Section 271(1)(c) - Held that:- There was no concealment of income or furnishing of inaccurate particulars of income by the assessee. From the record, it is clear, that the assessee had furnished all the particulars, but merely because the accounting method adopted by the assessee was not accepted, because of which certain tax had been levied, would not mean that the assessee had furnished wrong information or concealed any income while filing its return. As such, on merits as well as on the question of validity of the notice, we do not find any infirmity with the order of the Tribunal. - Decided in favour of assessee.
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