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When assessee fails to rebut the addition made by the AO in respect of undisclosed income found during the search and also chooses not to file appeal against the huge quantum addition, penalty is warranted in such circumstances
Case Law Details
- Case Name
- Earth Castle Vs Dy. Commissioner of Income Tax (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006- 07
- Courts
- All ITAT, ITAT Mumbai
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Earth Castle Vs Dy. Commissioner of Income tax (ITAT Mumbai) – Imposition of penalty under s 271(1)(c) is sustainable if the assessee is unable to substantiate an explanation in relation to the addition made by the AO in respect of the undisclosed income found during the search and also did not file appeal against the addition.
Earth Castle Vs Dy. Commissioner of Income Tax
Decided by- ITAT Mumbai
ITA No. 3064/Mum/2008
Assessment Year: 2006- 07
Decided on- 17.06.2011
ORDER
Per RAJENDRA SINGH (AM).
This appeal by the assessee is directed against the order dated 29.2.2008 of the...
