Shri Harish Chandra Bhatia Vs. ACIT, Central Circle, Dhanbad

Parties Involved

Facts Summary

A survey operation was conducted on 10.08.2017 in the case of the assessee. The assessee filed its return of income disclosing Rs.2,90,065/-. Subsequently, the assessment was completed at the total income of Rs.22,08,581/-. Penalty proceedings were initiated and statutory notices were issued to the assessee. The assessee did not comply with the notices issued to him and since concealment of income was detected by the AO as per his order, penalty of Rs.5,18,622/- was imposed. During the proceedings before the learned CIT(A), three opportunities of hearing were provided to the assessee but there was absolutely no compliance by the assessee.…

Legal Issues

• 1. Whether the penalty imposed for concealment of income was justified?

Judgment Outcome

Decided in favour of Assessee.

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