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2013 (10) TMI 275 - ITAT AHMEDABADPenalty u/s 271(1)(c) of the Income Tax Act – short term capital gains was not disclosed in the return of income - Held that:- Reliance has been placed upon the judgment in the case of Kailashbhai Ambalal Shah [2010 (11) TMI 131 - ITAT, AHMEDABAD] - The assessee has not brought any clinching material in support of the statement that she was not aware of the details of the return of income filed by the power of attorney holder and further in the absence of any evidence has been brought on record to demonstrate that the return of income was filed without the knowledge of the Assessee - Assessing Officer was fully justified levied the penalty in the present case – Decided in favor of Revenue.
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