COURT: | ITAT Hyderabad |
CORAM: | Asha Vijayaraghavan (JM), B. Ramakotiah (AM) |
SECTION(S): | 271(1)(c) |
GENRE: | Domestic Tax |
CATCH WORDS: | furnishing inaccurate particulars of income, penalty |
COUNSEL: | Inturi Rama Rao |
DATE: | September 16, 2014 (Date of pronouncement) |
DATE: | November 8, 2014 (Date of publication) |
AY: | 2007-08 |
FILE: | Click here to view full post with file download link |
CITATION: | |
S. 271(1)(c): Apart from falsity of the explanation, the department must have cogent material or evidence from which it could be inferred that assessee has consciously concealed particulars of income or deliberately furnished inaccurate particulars of income |
As held by Hon’ble Supreme Court in the case of CIT vs. Khode Easwar 83 ITR 369 the penalty proceedings being penal in character, the Revenue itself has to establish that the receipt of the amount undisputedly constitute income of …
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