Third member held that when the AO has recorded the satisfaction as regards concealment of particulars of income while initiating the penalty proceedings and imposed penalty for furnishing inaccurate particulars of income , the levy of penalty is not sustainable. (AY. 2006-07, 2008-09)
Harvinder Singh v. ITO (2019) 200 TTJ 137 / 179 DTR 225 (TM)(Amritsar)(Trib.)
S. 271(1)(c) : Penalty–Concealment–Recording the satisfaction as regards concealment of particulars of income–Imposition of penalty for furnishing inaccurate particulars of income–Levy of penalty is held to be not valid. [S. 274]