K.K. Motwani (HUF) Versus Asstt. Commissioner of Income Tax - Income Tax - ITAT MUMBAI - Tri - Concealment of Income - Penalty u/s 271(1)(c) - While filing return of income for the assessment year under consideration, the assessee has not disclosed the correct value of closing stock and it has resulted into escapement of income which was liable to tax to the extent of non-inclusion of re-purchase price of the five flats - Held that - The assessee filed return for assessment years 2005-06 and 200................................... Income Tax - Case Laws
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