No concealment penalty if assessee itself discloses additional income before con

IT : Where Tribunal set aside penalty order passed under section 271(1)(c) holding that penalty was not leviable inasmuch as assessee itself had disclosed additional income before passing of assessment order, no substantial question of law arose from said order

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[2013] 38 taxmann.com 47 (Allahabad)

HIGH COURT OF ALLAHABAD

Commissioner of Income-tax

v.

Deewan Tourism Ltd.*

SUNIL AMBWANI AND ADITYA NATH MITTAL, JJ.

IT APPEAL NO. 207 OF 2009†

SEPTEMBER  13, 2012 

Section 271(1)(c) of the Income-tax Act, 1961 - Penalty - For concealment of income [Disclosure made before passing of assessment order] - Tribunal set aside penalty order passed under section 271(1)(c) holding that penalty was not leviable inasmuch as assessee itself had disclosed additional income before passing of assessment order -Whether on facts, no substantial question of law arose from Tribunal's order and, therefore, revenue's appeal was to be dismissed - Held, yes [Para 7] [In favour of assessee]