Mere filing of return u/s. sec. 153A not sufficient to escape penalty for concealment

HIGH COURT OF DELHI Shourya Towers (P.) Ltd. Versus Deputy Commissioner of Income-tax IT APPEAL NO. 170 OF 2012 DECEMBER 12, 2012 ORDER S. Ravindra Bhat, J. This is an assessee’s appeal under Section 260-A of the Income Tax Act 1961 (“the Act”) assailing the order of the Income Tax Appellate Tribunal, Delhi Bench (ITAT) dated 25-3-2011 in ITA No. 701/D/09. The assessee urges that the substantial question which arises in this case, is that the ITAT erred in not applying clause (2) to Explanation 5 to Section 271 (1) (c) of the Act, in the facts and circumst...