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Penalty on alleged gifts received by minor sons of assessee which are finally transferred to assessee
Case Law Details
- Case Name
- Saurabh Bansal Vs. ITO (ITAT Ahemdabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All ITAT, ITAT Ahmedabad
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Penalty is leviable within meaning of Explanation 1(B) to section 271(1)(c) in respect of alleged gifts received by minor sons of assessee which are finally found transferred to assessee’s books
ITAT AHMEDABAD BENCH “D”,
Saurabh Bansal Vs. ITO,
APPEAL NO: ITA No. 351/Ahd/2008,
DECIDED ON June 25, 2010
ORDER
Per D. C. Agrawal, Accountant Member.
This is an appeal filed by the assessee against the order of ld. CIT(A) in which he has confirmed the penalty of Rs.2,08,380/- under section 271(1)(c) of the Act. The assessee raised following ground :-
1. On the facts and in circums...
