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Penalty u/s 271(1)(c) Deleted by ITAT Kolkata for Forced & Retracted Disclosure
Case Law Details
- Case Name
- Sunil Kumar Agarwal Vs ACIT (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Kolkata
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Sunil Kumar Agarwal Vs ACIT (ITAT Kolkata)
ITAT Kolkata: Retraction Accepted – No Incriminating Material, Penalty u/s 271(1)(c) Deleted- Forced Disclosure Without Evidence Can’t Sustain Penalty – ITAT Kolkata
Kolkata Tribunal deleted penalty levied u/s 271(1)(c), holding that Explanation 5A was wrongly invoked when no incriminating material was found during search and disclosure stood retracted.
A search u/s 132 was conducted on 05.02.2021 against Healthcare/ESKAG group. Assessee, being a key person, was covered. He originally filed ROI for AY 2015-16 declaring income of ₹21.03 lakh. P...
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