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2018 (1) TMI 1311 - GUJARAT HIGH COURTPenalty levied u/s 271(1)(c) - claim of deduction u/s 10B - Held that:- Commissioner (Appeals) has categorically found that there was no concealment of facts by the assessee, to which the Tribunal has concurred. The assessee made a bonafide claim which was not accepted by the revenue. Therefore, in the absence of any concealment, merely because the assessee had made a claim under section 10B of the Act, the same would not attract penalty under section 271(1) (c) of the Act. Therefore, no infirmity can be found in the impugned order passed by the Tribunal in upholding the deletion of penalty under section 271(1)(c) of the Act. - Decided in favour of assessee
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