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2019 (11) TMI 1294 - AT - Income TaxPenalty u/s 271(1)(c) - disallowance of expenses - proof of concealment of income and furnishing inaccurate particulars - HELD THAT:- It is clear from the submission of the assessee that the assessee has disclosed apposite particulars of above referred various expenses and the circumstances under which these expenses were incurred. After considering these material facts and nature of expenses and the circumstances under which the impugned expenses were incurred, we do not find any substance in the decision of the ld. CIT(A) that the assessee has concealed the particulars of income. Therefore, we delete the impugned penalty levied u/s. 271(1)(c) - Decided in favour of assessee.
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