2004 (4) TMI 271

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....ng the penalty under s. 271(1)(c) amounting to Rs. 1,58,544 on the basis that no concealment was involved. 2. I have heard the rival submissions and carefully perused the orders of the authorities below and documents placed on record. 3. On careful perusal of the orders of the lower authorities, I find that the assessee has claimed deduction of interest payment made to the Department under s....

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....hemicals & Mineral Ltd. (2004) 186 CTR (Raj) 552 : (2003) 259 ITR 212 (Raj) in which it has been held that the assessee has claimed some deductions which are debatable but it cannot be said that it has concealed any income or furnished inaccurate particulars of income for evasion of tax. 6. Having considered the rival submissions and from a careful perusal of the orders of the lower authorities....