2000 (10) TMI 845

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.... the assessee against the order dated 21st September, 1994 passed by the learned CIT(A)-XII. Ahmedabad wherein the learned first Appellate Authority has upheld the action of the AO in levying the penalty under section 271(1)(c) but allowed partial relief to the assessee with regard to the quantum of penalty which was imposed by the AO at an amount of Rs. 74,973. 2. Briefly the facts are that th....

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....elief to the assessee in respect of various additions made but total addition was sustained to the extent of Rs. 1,16,847. On further appeal by the assessee, the Tribunal vide its order dated 30-6-1997 in ITA No. 1099/Ahd./92 for assessment year 1988-89 sustained the following additions only : (a) Addition on account of GP Rs. 60,000 (b) Entertainment expenses Rs. 2,000 ....

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....ncealment, by the Departmental authorities. Accordingly, it was submitted that merely because the accounts were rejected and additions made, no penalty can be levied. Reliance was placed on the decision of the Ahmedabad Bench of the Tribunal in the case of Patel Engineering Co. v. ITO [1988] 39 Taxman 236 in ITA No. 623/Ahd./85, order dated 20-11-1987. The learned DR supported the order of the CIT....