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2018 (4) TMI 266 - HC - Income TaxPenalty u/s 271(1)(c) - deduction u/s 80IB disallowed - Held that:- In view of the explanation added, it cannot be said that the onus lies on the Revenue to establish mens rea in cases of concealment and/or short payment of tax. There is an onus on the Assessee. Whether the Assessee has been able to discharge the onus would depend on the facts and circumstances of the case. In the instant case, the learned Tribunal, in effect, arrived at a clear finding that imposition of penalty was not justified having regard to the facts and circumstances of the case. No substantial question of law that warrants interference.
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