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2009 (10) TMI 14 - ALLAHABAD HIGH COURTPenalty u/s 271(1)(C) – held that - While perusing the order of the Commissioner of Income-tax, it reveals that penalty has been levied on the basis of the additions which are made either due to difference of opinion or merely on presumptions or of routine nature. Before imposing penalty for concealment of income, the Assessing Officer should bring concrete evidence or material on record for his satisfaction that income has been concealed or inaccurate particulars thereof have been furnished - Mere initiation of proceedings under Section 271(1)(c) cannot be assumed that such a satisfaction was arrived at by the Assessing Officer. Accordingly, the appeal was allowed and the penalty deleted being not sustainable.
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