TMI Blog2007 (7) TMI 223X X X X Extracts X X X X X X X X Extracts X X X X ..... t cannot be concluded that the assessee has, furnished incorrect particulars - Even otherwise, no evidence with regard to concealment has been placed on record by the Revenue – penalty not sustainable - 213 of 2007 - - - Dated:- 2-7-2007 - M. M. KUMAR and S. D. ANAND JJ. S. K. Garg Narwana for the appellant. JUDGMENT The judgment of the court was delivered by M. M. KUMAR J.— The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal has further recorded a categorical finding that the Revenue has not furnished any evidence to prove that the assessee had either concealed any income or furnished inaccurate particulars nor is it a case of the Revenue that the assessee has consciously and intentionally defied the law. It is on the basis of the aforementioned findings that the Tribunal has taken the view that no question of lev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... count No. 67, maintained with the State Bank of Patiala, Kurali. There fore, the Tribunal relying upon the judgments of the hon'ble Supreme Court in the case of Hindustan Steel Ltd. v. State of Orissa [1972] 83 ITR 26 and K. C. Builders v. Asst. CIT [2004] 265 ITR 562 and a number of other judgments of various High Courts, came to the conclusion that once the particulars of income have bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... articulars about his income which he has received albeit claiming the same to be gift. The case does not fall within the mischief of section 271(1) (c) and it cannot be concluded that the assessee has, furnished incorrect particulars. Even otherwise, no evidence with regard to concealment has been placed on record by the Revenue to take a view in its favour. On the contrary, the income has been re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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