Sardari Lal Aggarwal vs. ITO Ward

Parties Involved

Facts Summary

The appeals by the assessee for Assessment Years 2009-10 to 2011-12 challenge the confirmation and levy of penalty under section 271(1)(C). The penalty was confirmed by the Commissioner of Income Tax (Appeals) for Rs.12,55,592/- for the year 2009-10. The assessee's income was estimated at 8% of the turnover, and the penalty was imposed for concealment of income particulars. The appeals were heard, and the Tribunal decided to dispose of them based on the case records and submissions from both parties.…

Legal Issues

• 1. Whether the penalty imposed for concealment of income particulars is valid when the income is estimated?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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