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TMI Blog2015 (11) TMI 799X X X X Extracts X X X X X X X X Extracts X X X X ..... ly because the accounting method adopted by the assessee was not accepted, because of which certain tax had been levied, would not mean that the assessee had furnished wrong information or concealed any income while filing its return. As such, on merits as well as on the question of validity of the notice, we do not find any infirmity with the order of the Tribunal. - Decided in favour of assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee was re-determined by the Assessing Officer, which order of the Assessing Officer became final, as the same was not challenged by the assessee. Thereafter, the Assessing Officer initiated penalty proceedings against the assessee under Section 271(1)(c) of the Act and levied the penalty at 100% of the tax, which was found to have been evaded. Challenging the said order, the assessee filed an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of so as to specify the default for which proceedings were being initiated against the assessee. 5. We have perused the notice, a copy of which is filed at Annexure-B to the appeal, and we are of the opinion that the finding recorded by the Tribunal in this regard is perfectly justified. While dismissing the appeal, the Tribunal has relied on the judgment of this Court rendered on 13.12.2012 i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal has affirmed the finding of the Appellate Commissioner wherein it has been held that there was no concealment of income or furnishing of inaccurate particulars of income by the assessee. 8. Having gone through the order of Assessing Officer as well as the Appellate Commissioner and the Tribunal, we are also of the opinion that there was no concealment of income or furnishing of in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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