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2004 (9) TMI 48 - PUNJAB AND HARYANA HIGH COURTPenalty - "Whether Tribunal is right in law in upholding the findings of the Commissioner of Income-tax (Appeals) cancelling the penalty imposed under section 271(1)(c), on the ground that there was no conscious and deliberate concealment on the part of the assessee?" - Revenue has not been able to controvert the factual position as noticed by the Tribunal. - It is clear that the Tribunal has accepted the explanation of the assessee that it was only because of bona fide mistake that the value of rejected goods were not shown in the closing stock as on March 31, 1979. The findings recorded by the Tribunal are essentially findings of fact which have not been shown to be erroneous or perverse. In view of these uncontroverted facts, the conclusion of the Tribunal has to be upheld
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