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2018 (1) TMI 1102 - AT - Income TaxPenalty u/s 271(1)(c) - addition on the clandestine removal of goods - Held that:- As the addition made by the Assessing Officer on the clandestine removal of goods was estimated by the CIT(A). However, the said addition has been deleted by the Tribunal and the other addition made under section 69C of the Act has also been deleted by the Tribunal. Thus we uphold the order of CIT(A) in deleting the penalty levied under section 271(1)(c) of the Act. See ACIT, Jalna Circle, Jalna Vs. M/s. Rishi Steel & Alloys Pvt. Ltd. [2018 (1) TMI 1082 - ITAT PUNE] - Decided in favour of assessee
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