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2019 (1) TMI 795 - AT - Income TaxPenalty u/s 271(1)(c) - discrepancy between Form 26AS and Form 16 - assessment u/s 144 - Held that:- With regard to salary, there is a difference between amounts as per Form No. 16 and Form No.26AS, since both are provided by the SBH, Hyderabad and the assessee has filed his return of income in accordance with Form No.16 issued by the employer of the assessee, by taking into account the amount mentioned in Form 26AS it cannot be said that the assessee has concealed amount or furnished inaccurate particulars of income. With regard to commission income the assessee has not disclosed the same in his return of income and also not offered any explanation. In our considered view, A.O. can initiate penalty only for the amount of commission which was not disclosed, can fall within the ambit of ‘concealment of income’. Therefore, we direct the A.O. to restrict the penalty to the tax sought to be evaded on the amount of commission. - Decided partly in favour of assessee
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