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2008 (2) TMI 285 - HC - Income Tax
Assessing Officer had made the additions on the basis of estimate – held that that the estimate would not ipso facto lead to penalty - held that in order to attract clause (c) of section 271(1) of the Act, it is necessary that there must be concealment by the assessee of the particulars of his income or furnishing of inaccurate particulars of such income – hence tribunal is justified in upholding the order of CIT of deleting penalty