AMIT KHEMKA,KOLKATA vs. ITO, WARD - 43(1), KOLKATA

In the result, the appeal is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

26 -03-2015 had initiated the penalty for furnishing inaccurate particulars of income whereas the Assessing Officer concluded the impugned Penalty Order U/S 271(1)(c) by imposing the penalty for concealment of income. 3. That the learned CIT (Appeals) has erred in law and on facts in sustaining the penalty levied U/S 271