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2016 (1) TMI 714 - AT - Income TaxPenalty order u/s.271(1)(c) - addition of work-in-progress, Unsecured Loan, Sundry Creditors and Disallowance of various expenses due to non production of evidence - Held that:- Proceedings u/s.271(1)(c) of the Act are altogether separate proceedings in the Act and should not be over shadowed by the proceedings held before during the assessment for that year and accordingly, we hereby remit the issue back to the file of Assessing Officer with a clear direction to give proper opportunity of being heard to the assessee to examine the reply of the assessee against various disallowances made by the Assessing Officer during the assessment proceedings, supporting evidences, ledger accounts and other records, which the assessee shall submit before the Assessing Officer to examine that whether there was any concealment of income on the part of assessee. - Decided in favour of assessee for statistical purposes.
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