Penalty Quashed Due to Discrepancy Between Charge Explained and Actual Levy u/s 27(1)(c) for Income Concealment.

Penalty u/s 27(1)(c) - addition u/s 68/69 for cash deposit in bank account - penalty has been initiated on the charge of furnishing inaccurate particulars, but Ld.AO levied penalty on concealment of income - assessee was asked to explain penalty on one count whereas levy has been on other count - itself sufficient for quashing of penalty .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X