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Section 271(1)(c) Penalty leviable as revised return filed only after issuance of notice u/s 143(2)/142(1)
Case Law Details
- Case Name
- Bhavesh Pravinchandra Sheth Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Mumbai
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Bhavesh Pravinchandra Sheth Vs Asstt. CIT (ITAT Mumbai)
Conclusion: Since assessee had no intention to make a full and true disclosure of its income as it would not have filed a revised return of income showing higher income before issuance of the notice 143(2)/142(1) by AO, therefore, AO rightly held that assessee had deliberately and consciously failed to furnish full and true particulars of income and attempted to conceal income and levy of penalty under section 271(1)(c) was confirmed.
Held: In the instant case, in the original return filed on 30.09.2011, assessee had declared total in...
