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2013 (11) TMI 160 - ITAT CHENNAIPenalty u/s 271(1)(c) During the investigation proceedings of the hospital it was noticed that the assessee has not disclosed income of Rs. 22,77,395 Held that:- The non disclosure of income by the assessee amounts to concealment of income The plea of the assessee he assumed that the default in not declaring the income was not willful - All the amounts received by him from the hospital were included in the certificate issued by the hospital - He had come to know about the moneys not included in the certificate only through the notice issued to him by the Department under section 148 was not convincing - Adopting "Doctrine of continuity" and concurrence, the penalty in the assessee's case is liable to be confirmed only in the first assessment year - Decided against assessee for the first assessment year.
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