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2018 (4) TMI 173 - ITAT DELHIPenalty u/s 271(1)(c) - addition on account of denial of benefit u/s 10(38) in respect of LTCG and addition on account of discrepancies in valuation of closing stock - whether the assessee has concealed particulars of income or has furnished inaccurate particulars of income? - Held that:- Following the law laid down by Hon’ble Supreme Court in Reliance Petro Products Pvt. Ltd. (2010 (3) TMI 80 - SUPREME COURT ), in case any claim put forth by the assessee is found to be not allowable, it would not amount to concealment of income rather it is a case of interpretation of the provisions which issue is otherwise a debatable one as of now the appeal having been admitted in the Hon’ble High Court. So, finding no illegality or perversity in the findings returned by the ld. CIT (A), present appeal filed by the Revenue is dismissed.
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