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2006 (2) TMI 110 - HC - Income TaxPenalty - "1. Whether Tribunal was justified in holding that the appellant was guilty of deliberate mis-statement of facts and concealment of facts, thereby attracting penalty under section 271(1)(c)? 2. Whether had erred in not holding that the provisions of section 273A, were attracted in the instant case and thereby exempted the appellant from paying the impugned penalty assessment?" - Tribunal was not correct in confirming the penalty. Accordingly, the first question of law is answered in favour of the assessee - With regard to the second question of law, learned counsel appearing for the assessee fairly conceded that the point was neither raised, nor considered by the Appellate Tribunal. Hence, there is no need to raise the question to answer the same.
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