2017 (11) TMI 1928

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ining to assessment year 2009-10 is directed against an order passed by the CIT(A) -37, Mumbai dated 20/01/2017, which in turn arises out of an order passed by the Assessing Officer under section 271(1)(c) of the Income Tax Act, 1961 (in short 'the Act') dated 14/08/2015. 2. The dispute in this appeal relates to penalty imposed under section 271(1)(c) of the Act amounting to Rs. 18,006/-. 3. A p....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....er section 271(1)(c) of the Act on the ground that assessee had concealed the income to the above extent and accordingly, a penalty of Rs. 18,006/- was imposed. The penalty has since been affirmed by the CIT(A) also. 4. We find that the plea of the assessee before the lower authorities has been that the levy of penalty is not automatic and that the transactions of purchase effected from the four ....