08/23/2006
[2008] 172 TAXMAN 330 (MAD )
Case Fact: Whether, levied penalty on the explanation that the stock
received in March were not included in inventory of assessee as they
remained unpacked is justified in law?
Decision: Held by the Hon’ble Court that, the tribunal concluded that there
was no intention to conceal the income and it was a genuine mistake, no
substantial question of law arose for consideration.