Supreme Court · 2001 INSC 381 · Decided 21 August 2001
M/S. K.P. Madhusudhanan v. Commissioner of Income Tax, Cochin
- Court
- Supreme Court of India
- Citation
- 2001 INSC 381 · [2001] SUPP. 2 S.C.R. 1
- Case number
- CIVIL APPEAL No. 6465/2000
- Decided
- 21 August 2001
- Bench
- S.P. BHARUCHA, Y.K. SABHARWAL, BRIJESH KUMAR (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 271(I)(c), 271(1)(c)
Headnote
B - Income Tax Act, 1961: Section 271 (I) (c)-Explanation (JB) Income- Concealment by assessee-Penalty-Notice under Section 27/(J)(c)-No express reference to Explanation (I BJ-Effect of-Held Explanation to Section c 271 (I) (c) is part of Section 271-Express invocation of the Explanation in .. firm, filed its return for the year 1986-87. During the course of proceedings the Assessing Officer noticed that the assessee had not made entries on relevant dates in the Books of Accounts in D respect of transactions relating to purchase of rice. In its explanation submitted to Revenue
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