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2015 (12) TMI 1033 - HC - Income TaxPenalty under Section 271(1)(c) - Held that:- The return filed by the assessee was a non est return. Even no explanation was furnished by the assessee to substantiate the claim of not filing the return voluntarily. The Tribunal observed that the case of the assessee fell under main provisions of Section 271(1)(c) of the Act as there was definite concealment in the facts and circumstances and, therefore, reference to Explanation 3 to Section 271(1)(c) of the Act for deleting the penalty under Section 271(1)(c) of the Act by the CIT was unjustified. The Tribunal had rightly concluded that there was clear concealment of income under the main provisions of Section 271(1)(c) of the Act and reference to Explanation 3 to Section 271(1)(c) of the Act by the CIT(A) was unwarranted. Learned counsel for the assessee was unable to demonstrate that either the approach of the Tribunal was erroneous or perverse in any manner or that the findings of concealment recorded by the Tribunal are based on misreading or misappreciation of evidence or material on record which may warrant interference by this Court. - Decided against assessee
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