It was held that the two defaults, concealment of income and furnishing of inaccurate particulars of income, are separate and distinct defaults which operate in their exclusive fields and the imposition of penalty by the Assessing Officer qua the solitary addition for both defaults contemplated in section\u00a0271(1)(c)\u00a0of the Act was not sustainable. When the Assessing Officer while completing the assessment had in the body of the assessment order initiated the penalty proceedings under section\u00a0271(1)(c)\u00a0for the default of concealment of income, there was no justification on his part in imposing penalty for both defaults, concealment of income and furnishing of inaccurate particulars of income. The order imposing penalty of Rs. 31,730 imposed by the Assessing Officer under section\u00a0271(1)(c)\u00a0was liable to be quashed.(AY. 2013-14, 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 271(1)(c): Penalty-Concealment-Assessing Officer in body of assessment order initiating proceedings for penalty for default of concealment of income-Imposition of penalty qua solitary addition for both defaults-Levy of penalty is 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-37321","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9HX","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37321","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=37321"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37321\/revisions"}],"predecessor-version":[{"id":37322,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37321\/revisions\/37322"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=37321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=37321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=37321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}