No Penalty Imposed: CIT(A) Order Overturned on Section 271(1)(c) for Inaccurate Income Particulars and Concealment.

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....Penalty u/s. 271(1)(c) - the assessee ought to have been visited with the penalty on the charge of furnishing of inaccurate particulars of income. As against that, the penalty order was passed with reference to both, namely, furnishing of inaccurate particulars of income and concealment as well. Under these circumstances, we are satisfied that the order passed by the ld. CIT(A) cannot be sustained. - No penalty - AT....