Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (9) TMI 629 - AT - Income TaxPenalty levied u/s. 271(1)(c) - levy penalty u/s. 271AAA - assessee not admitted any undisclosed income u/s. 132(4) - HELD THAT:- Income disclosed by the assessee in the Return of Income which is not part of Regular Accounts is liable for levy of penalty u/s.271(1)(c) and (ii) the order of the CIT(A) directing the AO to levy penalty u/s. 271AAA of the Income Tax Act on the undisclosed income cannot be sustained. Hence the action of the Assessing Officer to sustain the penalty u/s 271(1)(c) levied vide order dt 27/6/2011 in the revision order dt 13/1/2017 is upheld. is justified and hence, we do not find any merit in the assessee’s appeal. - Decided against assessee
|