In the result, appeal of the assessee is allowed and the appeal of the revenue is dismissed
Bench: Shri George Mathan & Shri Ratnesh Nandan Sahaym/S Central Coalfields Ltd., D.C.I.T., Darbhanga House, Kutchery Road, Circle-1, Vs. Ranchi-834001 (Jharkhand) Ranchi. Pan No. Aaacc 7476 R Appellant/ Assessee Respondent/ Revenue D.C.I.T., Central Coalfield Ltd., Circle-1, 4Th Floor, Central Revenue Building Vs. Ranchi. Annexee, 5A, Main Road, Ranchi-834001 (Jharkhand) Pan No. Aaacc 7476 R Appellant/ Revenue Respondent/ Assessee
70,000/- @ 150% of the tax sought to be evaded under Section 271(1)(c) of the Act dated 04/12/2017 on the ground that "the assessee company has furnished inaccurate particulars of income and to that extent it has concealed its income." 3. Aggrieved by the said penalty order, the assessee company filed appeal before