385 results for “reassessment”+ Section 3(1)clear
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In the result, all the 12 appeals filed at the instance of
Bench: Shri Kul Bharat & Shri Manish Borad
3 of the assessment order, the assessing order, AO observed as under:- “As the assessee has concealed/furnished the inaccurate particulars of income therefore, penalty u/s 271(1)(C) is also initiated.” 3.3. As per section 271 (1)(c), the assessing officer is empowered to impose penalty if in the course of any proceedings under this Act is satisfied that