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2019 (5) TMI 280 - AT - Income TaxPenalty u/s 271(1)(c) - appeal against quantum addition remanded by ITAT - Proof of concealment of particulars of income and furnishing inaccurate particulars of his income assessable to tax - as alleged assessee has not admitted bank account with Lakshmi Vilas Bank, Sankarapuram in its books of account and in turn in the balance sheet - HELD THAT:- As against the quantum addition, the assessee preferred further appeal before the Tribunal and vide order [2017 (8) TMI 1532 - ITAT CHENNAI] the Tribunal remitted the matter back to the file of AO for fresh consideration, we are of the considered opinion that the issue of levy of penalty needs to be remitted back to the file of the AO for fresh adjudication after deciding the quantum. We remit the matter back to the file of the Assessing Officer for fresh consideration after allowing an opportunity of being heard to the assessee. Appeal filed by the assessee is allowed for statistical purposes.
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