DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6(1)(1), BANGALORE vs. SANTOSH SHIVAJI LAD, BANGALORE
In the result, the appeal of the Revenue is hereby dismissed
ITA 1522/BANG/2024[2013-14]Status: DisposedITAT Bangalore14 Jul 2025AY 2013-14
Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2013-14
For Appellant: Shri V Srinivasan, AdvocateFor Respondent: Shri Murali Mohan M, CIT (DR)
Section 271(1)(c)Section 274Section 36(1)(vii)Section 36(2)Section 57
191
Taxman 179 (Delhi), it has been held-
“11. Thus, in case of failure of the assessee to offer any explanation or the explanation furnished by him being found false, penalty may be imposed on him. However, if an explanation is offered by the assessee, mere failure on his part to substantiate it will not be enough to warrant penalty