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The Tax Publishers2013 TaxPub(DT) 2718 (P&H-HC) : (2013) 054 (I) ITCL 0419 : (2013) 263 CTR 0707 : (2013) 094 DTR 0137
CIT v. Rajiv Bhatara
INCOME TAX ACT, 1961 --Penalty under section 271(1)(c)--ConcealmentClaim of agricultural land found unsustainable--Where assessee's claim regarding income from agricultural land being situated within 8 kms from municipal limits of Sonepat was rejected and profit assessed to capital gains, was not to be treated as furnishing of inaccurate particulars of income and as such penalty under section 271(1)(c) imposed by AO was rightly deleted by Tribunal.
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