Court held that S. 271(1)(c) not only speaks of concealment of particulars of income but also furnishing inaccurate particulars of such income. The additions made, to the extent confirmed by the court, led to a finding of inaccurate particulars having been furnished which would enable invocation of section 271(1)(c) . Court also held that, the order of the Tribunal was received on January 31, 2008. The limitation under clause (a) of section 275(1) was six months from the end of the month in which the order of the Tribunal is received. The penalty order having been passed on July 31, 2008, it was within the limitation period, though on the last day of the period as provided in clause (a).( AY.1998-99 to 2004-05)
Parisons Roller Flour Mills P. Ltd. v. CIT (2019)411 ITR 553 / 176 DTR 377/ 307 CTR 825/ 265 Taxman 35 ( Mag.) (Ker.) (HC)
S. 275 : Penalty-Bar of limitation–Concealment of income-With effect from 1-6-2003–Limitation of six months from end of month in which order of Tribunal is received-Order received on 31-1-2008-penalty order was passed on 31-7-2008–Not barred by limitation. [S. 271(1)(c)]