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2009 (11) TMI 461 - HC - Income TaxPenalty- Concealment of income - This appeal by the Revenue is filed being aggrieved by the order of the Income-tax Appellate Tribunal, for the assessment year 2000-01 dated September 6, 2006, wherein the appeal filed by the Revenue has been dismissed confirming the order passed by the Commissioner of Income-tax (Appeals) dated December 16, 2004, wherein the order imposing penalty under section 271(1)(c) of the Act has been cancelled by the appellate authority by allowing the appeal. Held that- the Tribunal had confirmed the finding of fact arrived at by the appellate authority and there was concurrent finding by the Tribunal that the appellate authority accepting the cause shown by the assessee under section 271(1)(c) for deleting the order of penalty imposed under section 271(1)(c). the order of cancellation was valid.
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