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2019 (5) TMI 1553 - AT - Income TaxPenalty u/s 271 - charitable status of assessee underwent a change pursuant to amendment to Section 2(15) - HELD THAT:- Penalty u/s 271 (1) (c), has not been initiated while passing assessment orders. The same has also been observed by CIT (A) in the impugned order. CIT (A) has also analysed audited accounts of assessee which reflected accumulated balance as on 31/03/08 in the return of income of assessee. It has been observed that charitable status of assessee underwent a change pursuant to amendment to Section 2(15). Because of this change in status, claim of assessee was inadmissible. We are therefore of considerable opinion, in present facts, it cannot be held that inaccurate particulars has been filed by assessee leading to concealment as argued by Ld.CIT(A). - Decided in favour of assessee.
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