Penalty under sec 271(1) ( c ) can be imposed subject to the condition of concealment or inaccuracy in the particular provided by the assessee

Last updated: 16 April 2012

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Court :
Income Tax Appeallate Tribunal

Brief :
In this appeal the assessee has raised various grounds, but only dispute is regarding the confirmation of levy of penalty u/s.271(1)(c) of the I.T. Act. The assessee has filed an appeal in the name of ‘Dimples Cine Advertising Pvt. Ltd.’, whereas the appellate order is in the name of ‘Dimples Leasing & Finance Ltd’. In this regard, the assessee has filed letter dated 20.03.2012 clarifying that the name of the company was changed w.e.f. 24.03.2005 and fresh certificate of incorporation consequent on the name of the change has been filed. Since, Form 36 has been filed under the new name and the learned DR has no objection if the order is passed in the new name, therefore, we accept the request to take on record the new name.

Citation :
Dimples Cine Advertising Pvt. Ltd.Park Avenue,16/29th Road Juction,Near Pali Market, Bandra(W),Mumbai-400 050 PAN NO: AAACD 3788 P (Appellant) Vs. ACIT Range 9(1),Mumbai (Respondent)

Daily Limit Reached