Allowing the appeal of the asessee the Court held that full details with regard to expenses claimed under selling, administrative and another expense was disclosed. Accordingly the assessee should not be burdened with penalty for concealment of income.( (AY.2010-11, 2011-12 2012-13 )
Granite Gate Properties Pvt. Ltd. v. CIT (2019) 414 ITR 130/175 DTR 415 / 307 CTR 599 (Delhi) (HC)
S. 271(1)(c) : Penalty – Concealment –Disallowance of expenses –Full details are disclosed – Levy of penalty is held to be not justified.