Tribunal held that there was no deliberate attempt to conceal the particulars of income or furnishing any inaccurate particulars thereof. The assessee had disclosed the source of an amount and claimed it as a capital receipt. The source of receipt of the amount was correctly disclosed. The issue being debatable order of Tribunal deleting the penalty is affirmed. (AY.1992-93)
CIT v. S. Kumar Tyres Manufacturing Co. Ltd. (2023)456 ITR 637 /147 taxmann.com 49 (MP)(HC)
S. 271(1)(c) : Penalty-Concealment-Capital or revenue-Debatable-Deletion of penalty is held to be justified.