Penalty Waived for Taxpayer: No Evidence of Concealment or Inaccurate Income Disclosure u/s 271(1)(c).

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Levy of penalty - assessee has been able to offer bona fide reasons for not disclosing the rental income - in absence of positive evidence beyond doubt regarding furnishing of inaccurate particulars of income or concealment of particulars of income towards the said rent, no penalty can be imposed 271(1)(c) - AT....