Search: penalty u/s 271

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Section 271(1)(c)7

M/S. ANUKUL CONSTRUCTION CO.,,RAJKOT-GUJARAT vs. THE ITO, WARD-1(2)(5),, RAJKOT-GUJARAT

In the result, appeal filed by the assessee is allowed

ITA 44/RJT/2019[2009-10]Status: DisposedITAT Rajkot14 Sept 2022AY 2009-10

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2009-10

For Appellant: Written SubmissionFor Respondent: Shri B.D. Gupta, DR

Section 271(1)(c)

928/-. The CIT(A) also sustained the disallowance to the extent of Rs.1,08,880/- in respect of no charge interest on loan and advances given to its partners. The Assessing Officer subsequently initiated penalty proceedings under section 271(1)(c) of the Act and the Assessing Officer has passed penalty order in respect of concealment of particulars of income