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2005 (3) TMI 35 - HC - Income Tax"Whether, on a true and correct interpretation of the provision of law as contained in section 139(4) read with section 271(1)(c) of the Income-tax Act, 1961, and Explanation thereto and application of such provisions to the facts of the case, the penalty for concealment and/or gross or wilful neglect was leviable in the instant case?" - Tribunal was not justified in holding that the applicant had concealed the particulars of the turnover and the revised return was only a cover up - We accordingly answer the question referred to us in the negative, i.e., in favour of the assessee and against the Revenue
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