TMI Blog2011 (1) TMI 328X X X X Extracts X X X X X X X X Extracts X X X X ..... und that such act is a clear case of concealment of income as well as furnishing of incorrect particulars of income - C.I.T.(Appeal) and Tribunal below have set aside the order of penalty on the ground that merely because assessee had claimed certain expenditure which was not acceptable, such act itself cannot attract penalty under section 271(1C) of the Act - Order of CIT(A) and ITAT sustained. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ame was not routed through P L account in the earlier year. penalty was imposed on the ground that such act is a clear case of concealment of income as well as furnishing of incorrect particulars of income. As indicated earlier, C.I.T.(Appeal) and Tribunal below have set aside the order of penalty on the ground that merely because assessee had claimed certain expenditure which was not acceptable ..... X X X X Extracts X X X X X X X X Extracts X X X X
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