SREE NAVALADIAN FINANCE,NAMAKKAL vs. ITO, SALEM
In the result, the appeals filed by the assessee in ITA Nos
ITA 1157/CHNY/2023[2016-17]Status: DisposedITAT Chennai23 Feb 2024AY 2016-17
Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal
For Appellant: Shri T.S. Lakshmi Venkataraman, CAFor Respondent: Shri P. Sajit Kumar, JCIT
Section 133ASection 147Section 148Section 270ASection 271(1)Section 271(1)(C)Section 271(1)(c)Section 274
u/s 271(1)(c) was initiated for concealment or furnishing the inaccurate particulars.
Hence, declared that before initiation of penalty proceeding, proper satisfaction was not recorded. In the present case, the facts are totally different. The Assessing Officer has rightly recorded the satisfaction that the penalty proceedings are initiated on account of 'under reporting'. Under reporting is another terminology
