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2018 (8) TMI 1422 - MADHYA PRADESH HIGH COURTLevy of penalty u/s 271(1)(c) - ITAT deleted the penalty - Additions u/s 41(1) - one time settlement with the SBI - Bank has waived a sum including interest - assessee has not furnished bifurcation of principal and interest amount in the total amount waived off by the bank and has claimed the entire amount as principal amount without giving any details. whether the ITAT was justified in holding that the assessee has furnished full particulars of income with regard to the waiver of loan by the Bank in its return particularly when the assessee had not given any particulars of its income under Section 41(1) of the Act neither in the Return filed under Section 139 (1) nor in the Return filed in response to the notice under Section 148 of the Act Held that:- the dispute between the parties is purely a dispute of facts. We do not find any substantial question of law in the present appeal. - Decided against the revenue.
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