Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 1977 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1977 (4) TMI 55 - ITAT DELHI-BExtract: .......from12th Oct., 1970onwards. In any case, while the explanation of the assessee may be rejected for the purpose of assessment such rejection by itself cannot from the basis for penalty. In our view, the Department has failed to bring home the charge of concealment. The penalty, therefore, lacks a valid basis and is deleted. 7. The appeal is allowed.
|