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2012 (11) TMI 423 - ITAT, AHMEDABADPenalty u/s 271(1)(c ) - CIT(A) deleted the levy - Held that:- Issue regarding disallowance of addition of deferred revenue expenditure was set aside & G.P. addition made by the A.O. of Rs.64,25,615/- was scaled down to only Rs 17,74,615/- & estimation of turn over to Rs. 3.75 crores from Rs.5 crores and the rate of G.P. was also scaled down to 30% as against 32%. As decided in Jumabhai Premchand (HUF) Versus CIT [1998 (6) TMI 538 - GUJARAT HIGH COURT] estimated addition is not sufficient for levy of penalty u/s 271(1)(c) - the addition in the assessment order is alright but in the proceeding for imposition of penalty, that fact alone was not sufficient and the burden was on the department to prove concealment of income which was not discharged by the department - in favour of assessee.
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