Dismissing the appeal of the revenue the court held that claim made due to change in accounting method which was given up in quantum proceedings cannot be considered as concealment of income or furnishing of inaccurate particulars of income. Order of Tribunal is affirmed. (AY. 2007-08)
PCIT v. Taneja Developers and Infrastructure Ltd. (2021) 435 ITR 122 / 201 DTR 234 / 320 CTR 775 (Delhi)(HC)
S. 271(1)(c) : Penalty-Concealment-New claim-Change in accounting method-Not a case of concealment of income or furnishing of inaccurate particulars-Deletion of penalty is held to be justified. [S. 132, 145, 153A]