Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (3) TMI 805 - AT - Income TaxPenalty u/s 271(1)(c) - change of head of income or loss in the assessment order - AO treated the rental income as ‘Income from House Property’ in place of Income from business or profession shown by the assessee - AO allowed the business expenses but disallowed depreciation. - proof of concealment of income - HELD THAT:- Penalty u/s 271(1)(c) of the Act is not attracted on mere change of head of income or loss in the assessment order which does not result in any concealment of income, hence, Ld. CIT(A), has rightly deleted the penalty in dispute which does not need any interference on our part, therefore, we uphold the action of the Ld. CIT(A) on the issue in dispute and reject the grounds raised by the Revenue.
|