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2009 (1) TMI 436 - HC - Income TaxPenalty-Concealment of Income- “Whether on the facts and circumstances of the case and in law, the hon’ble Tribunal has erred in deleting the penalty observing that as the assessee had not filed return of income on the ground that the assessee had concealed or furnished inaccurate particulars of income?” Held, (i) that the effect of Explanation 1 to section 271(1)(c) of the Income Tax Act, 1961, was not an issue either before the assessing officer or the Commissioner (Appeals) or before the Tribunal. The question did not arise out of the order of the Tribunal and could not be considered by the High Court.(ii) that there was a categorical finding that the assessee had earlier filed returns. Penalty was sought to be imposed on the ground of failure to file return for the assessment year 1997-98. The assessee’s case would not fall under section 271(1)(c). penalty could not be imposed under section 271(1)(c).
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