The Commissioner of Income Tax -III vs. Sri T.C. Reddy

The appeal stands dismissed

bogus and without any justification. This works out to Rs.6,45,000/-. Penalty proceedings u/s 271(1)(c) r.w 274 of the Income-tax Act for concealment and furnishing of inaccurate particulars are initiated separately. (ii) The assessee has also claimed capital expenditure of Rs. 168600/- as a revenue expenditure. The capital expenditure pertains to fees paid to Registrar