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2017 (7) TMI 1174 - HC - Income TaxPenalty u/s 271(1)(c) - assessee filed revised computation of income during the course of assessment proceedings by surrendering a sum of ₹ 1.50 crores on account of unverified creditors and on account of wrong claim of deduction u/s 80G - Held that:- Taking into consideration the first finding by the CIT(A) and affirmed by the Tribunal holding that mere concealment will not be the case for penalty but there should be some evidence to establish that it was a concealment. Mere disclosure on the contrary as facilitated by the AO is no reason for adding income. We are in complete agreement with the view taken by the authorities. The issue is required to be answered in favour of the assessee against the department.
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