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The Tax Publishers ACIT v. Ferromatik Millacron India Ltd. [ITA No. 2222/Ahd/2012, dt. 1-4-2016] : 2016 TaxPub(DT) 2143 (Ahd-Trib) Concealment penalty for MAT provisions *Facts:* Assessee-company was assessed under MAT, additions were made to income and then concealment penalty was levied despite being assessed under MAT provisions for assessment year 2005-06. Commissioner (Appeals) upheld the said penalty, on further appeal: Held in favour of the assessee that concealment penalty cannot be imposed for MAT for period prior to 1-4-2016 vide Circular No. 25/2015.

The Tax Publishers

ACIT v. Ferromatik Millacron India Ltd. [ITA No. 2222/Ahd/2012, dt. 1-4-2016] : 2016 TaxPub(DT) 2143 (Ahd-Trib)

Concealment penalty for MAT provisions

Facts:

Assessee-company was assessed under MAT, additions were made to income and then concealment penalty was levied despite being assessed under MAT provisions for assessment year 2005-06. Commissioner (Appeals) upheld the said penalty, on further appeal:

Held in favour of the assessee that concealment penalty cannot be imposed for MAT for period prior to 1-4-2016 vide Circular No. 25/2015.