Tag: concealment of income

No Concealment if return revised due to search of other person when assessee filed it voluntarily and no proceedings initiated u/s 153 against him-ITAT

No Concealment if return revised due to search of other person when assessee filed it voluntarily and no proceedings initiated u/s 153 against him-ITAT

November 14, 2016 Income Tax, ITAT, Judgments
No Concealment if return revised due to search of other person when assessee voluntarily filed revised ITR and no proceedings were initiated u/s 153 against him-ITAT ABCAUS Case Law Citation: 1052 (2016) (11) ITAT Important Case considered: Ravi Sud vs. ACIT (2015) 39 ITR (T) 356 CIT vs. …
There is a difference in “facts not proved” and “facts disproved” and penalty u/s 271(1)(c) can be levied only for the latter

There is a difference in “facts not proved” and “facts disproved” and penalty u/s 271(1)(c) can be levied only for the latter

April 8, 2016 Income Tax, ITAT, Judgments
In a latest judgment, ITAT Chennai has quashed penalty proceedings u/s 271(1)(c) for concealment holding that  there is a difference in “facts not proved” and “facts disproved” and penalty can be levied only for the latter. Case Law Details: ITA No.1730/Mds./2015 Assessment Year :2010-11 Mr.R.A.Palanisamy vs. Income Tax Officer Date of …