THE COMMISSIONER OF INCOME TAX GULBARGA vs. M/S MANJUNATHA COTTON AND GINNING FACTORY

The appeals are dismissed

Bench: ARAVIND KUMAR,N.KUMAR

45 28. Section 271(1) makes appropriate provision for levying penalties on assessee in different eventualities. One such eventuality is for concealment of income or furnishing of inaccurate particulars of such income. The penalty provisions has two distinct limbs. One limb deals with the condition precedent for initiating penalty action and assumption of jurisdiction of the authority concerned. This limb

M/S HOTEL FISHLAND vs. UNION OF INDIA

Bench: The Hon’Ble Mr.Justice Aravind Kumar