2011 (1) TMI 328

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..... ble claim as the same was not routed through P&L account in the earlier year. penalty was imposed on the ground that such act is a clear case of concealment of income as well as furnishing of incorrect particulars of income - C.I.T.(Appeal) and Tribunal below have set aside the order of penalty on the ground that merely because assessee had claimed certain expenditure which was not acceptable, suc .....

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..... uld not be claimed as allowable claim as the same was not routed through P&L account in the earlier year. penalty was imposed on the ground that such act is a clear case of concealment of income as well as furnishing of incorrect particulars of income. As indicated earlier, C.I.T.(Appeal) and Tribunal below have set aside the order of penalty on the ground that merely because assessee had claimed .....

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