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2021 (2) TMI 682 - GUJARAT HIGH COURTPenalty u/s 271 (1)(c) - addition under Section 50C - HELD THAT:- We are of the view that as the issue with regard to Section 50C of the Act is to be decided afresh by the Principal Commissioner, the issue with regard to penalty also should be decided afresh by the Principal Commissioner. Writ application succeeds in part. The impugned order is hereby quashed and set aside and the matter is remitted to the Principal Commissioner of Income Tax, Ahmedabad. The Principal Commissioner shall decide both the issues with respect to Section 50C of the Act as well as the issue with regard to the penalty.
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