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2018 (7) TMI 2174 - AT - Income TaxPenalty u/s 271(1)(c) - assessee has not complied with the orders of the AO and did not co-operate in submitting the information asked by the AO - As during the course of survey proceedings it was admitted by Shri Jayantibhai Lakhani that he and his group members had accepted unsecured loans by giving cash to the person from whom loans and advances received - HELD THAT:- It is evident that the appellant had deliberately and intentionally not disclosed the true and correct income with the intention to avoid payment of tax and thereby concealed the income. The facts and circumstances as discussed in above decision of ITAT, Ahmedabad ‘D’ Bench in assessee’s own case in [2010 (3) TMI 1078 - ITAT AHMEDABAD] for A.Y.2004-05, we find that provisions of section 271(1)(c) are attracted. Therefore, we do not find any reason to interfere with findings recorded by the lower authorities. - Decided against assessee.
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