PRAGATI PRAKASHAN Vs. CIT, MEERUT

JUDGEMENT

(1.) THIS is an appeal filed by the assessee against the order u/s. 263 of the Act dt. 28.3.2013 passed by the Ld. CIT, Meerut.

(2.) FACTS in brief: - -The assessee is a partnership firm carrying on business of manufacturing and sale of educational books. It filed its return of income on 30.9.2008 declaring total income of Rs. 14,08,083/ -. Nature of the assessee's business is printing, manufacturing and sale of only educational books to various Institutions, Universities, shops, wholesalers etc. It gets books written by various authors for which they are given royalty according to the sale of books.

(3.) THAT the Worthy Commissioner of Income Tax has erred in facts and in law in initiating penalty u/s. 271(1)(C) on alleged concealment of income, while making an addition of Rs. 9,32,783/ -.