DEPUTY COMMISSIONER OF INCOME TAX, AMRAVATI & CHANDRAPUR CIRCLE, AMRAVATI vs. CHANDRAPUR DISTRICT CENTRAL CO-OP BANK LTD., CHANDRAPUR

In the result, appeal filed by the Revenue is allowed for statistical purposes

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

11,248. Therefore, the Assessing Officer has initiated penalty proceedings under section 271(1)(c) of the Act and issued notice dated 26/02/2016, under Chandrapur District Central Co–operative Bank section 274 r/w section 271(1)(c) of the Act for furnishing inaccurate particulars of income. 5. The assessee has submitted before the Assessing Officer during the penalty proceedings that