COMMISSIONER OF INCOME TAX Vs. PRAVEEN B. GADA

JUDGEMENT

(1.) HEARD on the question of admission.

(2.) THIS appeal under S. 260A of the IT Act 1961 (for short "the Act") is directed against the order dt. 6th April, 2010 passed by Income-tax Appellate Tribunal, Bench Indore (for brevity "the Tribunal") in ITA No. 74/Ind/2010 for the asst. yr. 2004-05.

(3.) ON the basis of the aforesaid observation made by the Tribunal the proceedings under S. 271(1)(c) of the Act were initiated against the assessee. The Dy. CIT, Indore vide order dt. 14th May, 2009 recorded a finding that the assessee has made a wrong claim of expenditure, whereas he could not substantiate his claim in that regard. Accordingly, the Dy. CIT, Indore vide order dt. 14th May, 2009 held the assessee guilty of concealment and ordered for penalizing him under S. 271(1)(c) of the Act. In appeal, the CIT(A) affirmed the findings of the Dy. CIT, Indore.