[aaykarbhavan] No penalty if AO had accepted revised return without stating any deliberate concealment on part of assessee

No penalty if AO had accepted revised return without stating any deliberate concealment on part of assessee

October 8, 2014[2014] 49 taxmann.com 12 (Rajasthan)/[2014] 264 CTR 204 (Rajasthan)

IT : Concealment penalty not imposable where income declared by assessee from long-term capital gain by selling agricultural land in his revised return was accepted by assessing authority and there was no material available on record by which there could be an inference drawn by authority that it was a deliberate concealment on part of assessee

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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