2015 (12) TMI 1545

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....ed 4-10-2013, for the assessment year 2005-06, in the matter of imposition of penalty u/s.271(1)(c) of the I.T.Act. 2. Rival contentions have been heard and record perused. The assessee is a housing cooperative society. The assessee has shown the receipt from mobile company, in income and expenditure account and surplus of this account has not been considered/offered as income on the principal of....

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....09, dated 30-07-2010, was as under :- "5. In our opinion, nothing has been withheld by the assessee in respect of the particulars. At the first instant, the assessee tried to make out a claim that the entire rental income is exempt on the concept of mutuality. Thereafter, he made out a claim that the entire income is to be assessed as income from house property. But both the claims of the assess....