Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2006 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2006 (5) TMI 84 - RAJASTHAN HIGH COURTGift tax - Section 17(1)(c) provides that penalty can be imposed when the assessee has concealed the particulars of any gift or deliberately furnished inaccurate particulars - finding that the assessee has disclosed all the material facts necessary for the assessment along with his return is not challenged - ITAT was justified in holding that the assessee was under a bona fide belief that the amount in question was not chargeable to gift-tax and as such no penalty u/s 17(1)(c) is leviable
|