Concealment of income — Imposition of penalty under s 271(1)(c) is sustainable if the assessee is unable to
substantiate an explanation in relation to the addition made by the AO in respect of the undisclosed income found
during the search and also did not file appeal against the addition, as held by MumTrib in Earth Castle v Dy CIT
In favour of: The revenue; ITA No 3064/Mum/2008: (AY 2006–2007).
substantiate an explanation in relation to the addition made by the AO in respect of the undisclosed income found
during the search and also did not file appeal against the addition, as held by MumTrib in Earth Castle v Dy CIT
In favour of: The revenue; ITA No 3064/Mum/2008: (AY 2006–2007).
Decided on: 17 June 2011.
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