Case Law Details
Case Name : DCIT Vs Raytheon Company (ITAT Delhi)
Related Assessment Year : 2004-05
Courts :
All ITAT ITAT Delhi
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DCIT Vs Raytheon Company (ITAT Delhi)
ITAT Delhi held that imposition of penalty u/s. 271(1)(c) of the Income Tax Act unsustainable in absence of any concealment of income or furnishing inaccurate particulars of income by the assessee.
Facts- The assessee filed returns of income declaring Nil incomeand the assessments were completed u/s 143(3) r.w.s. 144C of the Act bringing to tax the amounts received by the assessee towards supply of spares contract and rotary joints on
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