October 2018

3 Section 271(1)(c) –Where satisfaction of AO while initiating penalty proceedings u/s. 271(1)(c) is with regard to alleged concealment of income by assessee, whereas imposition of penalty is for 'concealment/furnishing inaccurate particulars of income', levy of penalty is not sustainable

Jagdish T. Punjabi
Devendra Jain
Tejaswini Ghag
Chartered Accountants

  [2018] 195 TTJ (Asr)(TM) 1

HPCL Mittal Energy Ltd. vs. ACIT

ITA No.:  554 & 555/Asr/2014

A. Ys.:  2008-09 & 2009-10  Dated: 20th June, 2018

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