2026 (9) TMI 1549

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....of 2026 (T - IT) - -<br>Income Tax<br>HON&#39;BLE MR. JUSTICE B M SHYAM PRASAD For the Petitioner : Sri. Shreehari Kutsa., Advocate For the Respondent : Sri. Y.V. Raviraj., Advocate ORAL ORDER: The petitioner&#39;s grievance is with the following Notices and Orders, and these relate to the Assessment Year 2013-14: Notices/ Orders Date Provisions of Income Tax Act, 1961 Anne....

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.... putting the petitioner on notice that it has filed inaccurate details of income and the penalty order is in the premise that there is a concealment of income. B. The penalty order is in the light of Exploration 4 to Section 271 of the IT Act, but this explanation, as clarified in the Circular No.25/2015, would be applicable prospectively. C. As stated in paragraph 5 of the clari....