In K.C. Builders (Supra), the Supreme Court held in para¬26 that once the finding of concealment and subsequent levy of penalties under Section 271 (1)(c) of the Act has been struck down by the Tribunal, there is no concealment, u/s 276¬C and 277 read with Section 278 of the Income Tax Act, 1961. Chattisgarh High Court again confirmed in M/S System India Castings vs The Principal Commissioner Of …. on 26 June, 2019
In K.C. Builders (Supra), the Supreme Court held in para26 that once the finding of concealment and subsequent levy of penalties under Section 271 (1)(c) of the Act has been struck down by the Tribunal, there is no concealment, u/s 276C and…
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