Every instance of addition does not ipso facto led to a conclusion that assessee is guilty of concealment

IN THE ITAT MUMBAI BENCH ‘J’ Income-tax Officer Versus Jain Associates IT Appeal No. 2625 (Mum.) of 2011 [ASSESSMENT YEAR 2007-08] JUNE  8, 2012 ORDER S.S. Godara, Judicial Member. This Revenue’s appeal challenges deletion of penalty by the learned Commissioner of Income-tax (Appeals), vide order dated January 19, 2011 imposed under section 271(1)(c) by the Assessing Officer, pertaining to the assessment year 2007-08. 2. The brief facts of the case are that the assessee which is a partnership firm engaged in the business of copyrights of motion pictures file...