5 results for “disallowance”+ Search & Seizureclear
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The appeal is allowed and the order passed by the
Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA
seizure operations, it would not tantamount to concealment of income liable to penalty under section 271[1][c] of the Act. Further, the assessee contended that the penalty notice was bad in law on the ground that the Assessing Officer has not recorded satisfaction. The Assessing Officer conceded the said submission and by an order dated 29.6.2010 rejected the same