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2018 (6) TMI 841 - HC - Income TaxPenalty under Section 271(1)(c) - whether the Assessee is guilty of concealment of income, which is deliberate - Additional income declared by the assessee by filing revised return consequent to notices u/s.143(2) and 142(1) - factual matrix - 'substantial question of law' - Held that:- There is no debatable question of law of substance necessary for determining the rights of the parties in the case. This is just a case where the question as to whether the assessee is liable to be mulcted with penalty under Section 271(1)(c) of IT Act in the given fact scenario / conduct needs to be answered. Therefore, we have no hesitation whatsoever in holding that the proposed questions of law are definitely not substantial questions of law. We are of the view that they may not even qualify as pure questions of law as they are all turning heavily on facts. We have held elsewhere in this judgment that the factual findings returned by the CIT and ITAT are held to be conclusive as we are sitting in Section 260A of the IT Act. Assessee is not guilty of deliberate concealment of income and is not liable to be mulcted with penalty under Section 271(1)(c) - Decided in favour of assessee.
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