SUPREME COURT OF INDIA
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SPECIAL LEAVE TO APPEAL (C) NOS. 28286 & 28287 OF 2015
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Balarampur Chini Mills Ltd..................................................................Appellant.
v.
Commissioner of Income-tax, Central-II, Kolkata.................................Respondent |
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R.K. AGRAWAL AND ABHAY MANOHAR SAPRE, JJ.
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| Date :MARCH 6, 2017 |
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| Appearances |
R.V. Easwar, Sr. Adv., Narinder K. Verma, Satyendra Kumar, Rishi Agrawala, Manan Shukla and E.C. Agrawala, Advs. for the Petitioner.
K. Radhakrishnan, Sr. Adv., Dhruv Sharma, H.R. Rao and Mrs. Anil Katiyar, Advs. for the Respondent.
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Section 271(1)(c) of Income Tax Act, 1961 — Penalty — Concealment penalty — SLP granted against High Court's ruling that where assessee disclosed additional income only after search of premises of another assessee by DIT which unearthed certain evidences indicating that certain expenditure claimed by assessee was disallowable, it would amount to concealment of income liable to penalty under section 271(1)(c) — Balarampur Chini Mills Ltd. vs. Commissioner of Income Tax.
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JUDGMENT
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1. Leave granted.
2. Hearing expedited.
3. Interim order granted earlier shall continue to operate, until further orders.
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[2017] 246 TAXMAN 373 (SC) |
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