Tribunal held that the penalty was initiated under both limbs of section\u00a0271(1)(c)\u00a0of the\u00a0Income-tax Act, 1961\u00a0whereas in the assessment order the penalty was only initiated for concealment of income. There was an ambiguity in the mind of the Assessing Officer while imposing penalty. Whenever penalty is to be imposed, the assessee must have a chance of self-defence, under the principles of natural justice and in this, since satisfaction was not recorded by the Assessing Officer it was obvious that the assessee was unable to prepare her defence whether penalty was imposed for concealment or furnishing of inaccurate particulars of income. In such circumstances, there could not be any imposition of penalty under section\u00a0271(1)(c)\u00a0.Accordingly the penalty was cancelled.<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 271(1)(c) : Penalty \u2013 Concealment \u2013 Penalty initiated under both limbs \u2013 Penalty levied for concealment of income \u2013 Levy of penalty is held to be not valid . <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14084","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Fa","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14084"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14084\/revisions"}],"predecessor-version":[{"id":14085,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14084\/revisions\/14085"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}