New Sorathia Engg. Co. vs CIT 2006 GUJRAT (HC)
Court :
GUJRAT (HC)
Brief :
Section 271(1)(c) of the Income-tax Act, 1961 - Penalty - For concealment of income - Assessment year 1981-82 - Whether where penalty order and order of Commissioner (Appeals) showed that no clear-cut finding had been reached as to whether penalty under section 271(1)(c) was being levied for concealment of particulars of income by assessee or whether any inaccurate particulars of income had been furnished, order of penalty could not be sustained - Held, yes
Section 254 of the Income-tax Act, 1961 - Appellate Tribunal - Orders of - Assessment year 1981-82 - Whether where Tribunal passed order without taking into consideration decision of jurisdictional High Court relied upon by assessee, order of Tribunal could not be sustained - Held, yes
Citation :
[2006] 155 TAXMAN 513 (GUJ.)
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MANISH MISHRA
Published in Income Tax
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