Penalty u/s 271C
Last updated: 28 August 2007
Court :
High Court
Brief :
Order of penalty MUST clearly state the reasons of penalty !
Citation :
New Sorathia engineering co Vs CIT
New Sorathia engineering Co. Vs. C.I.T.
(2006) 282 ITR 642 (Gujarat)
Case Fact: Whether an order of penalty must clearly state the reason for penalty?
Decision: Held by the Hon"ble court that it is incumbent upon the Assessing Officer to state whether penalty was being levied for concealment of particulars of income by the assessee or whether any inaccurate particulars of income had been furnished by the assessee.
CA.Saibaburao Nanduri
Published in Income Tax
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