No penalty for mere upheld of additions by CIT (A)

PCIT Vs Junjab National Bank (Delhi High Court)  Merely because additions made by the Assessing Officer have been partially upheld by the CIT (A), would not confer the ground to initiate proceedings under Section 271(1)(c) of the Act of imposition of penalty, unless it is found that there is concealment of material facts, or furnishing of inaccurate particulars. FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT The Revenue has preferred the present appeal to assail the order dated 14.08.2018 passed by the Income Tax Appellate Tribunal Delhi Bench: ‘F’, New Delhi in ITA No. 6596/Del/2016 prefer...