TMI Blog2015 (12) TMI 1545X X X X Extracts X X X X X X X X Extracts X X X X ..... g the terrace to be used or installing telecommunications network as business income - Held that:- No conscious act on the part of the assessee for concealing the particulars of income. In our opinion, there is no justification to support the penalty order passed by the A.O u/s 271(1)(c) of the Act levying penalty upon the assessee. See Jolly Highrise Co-op HSG Society Ltd. [2010 (7) TMI 1082 - IT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allowing the terrace to be used or installing telecommunications network as business income. The assessee s contention is regarding treating the receipt as income from property and allowing the allowance was declined by the lower authorities. For the change in head of income, the AO levied penalty u/s.271(1)(c) of the Act, which was confirmed by the CIT(A). 3. Ld. AR placed on record order of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l income/license fee under the head 'income from other sources'. As per the facts before us only controversy was in respect of the head of income under which the income is to be assessed. We do not find that any conscious act on the part of the assessee for concealing the particulars of income. In our opinion, there is no justification to support the penalty order passed by the A.O u/s 271 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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