By PTI
CHENNAI: In a relief to film actor Trisha Krishna, the Madras High Court today dismissed the Income Tax department’s demand of Rs 1.11 crore penalty for alleged non-disclosure of income pertaining to 2010-11, observing that there was no deliberate concealment by her.
“We have concluded that the assessee is not guilty of deliberate concealment of income and is not liable to be mulcted with penalty under the Income Tax Act,” a bench of Chief Justice Indira Banerjee and Justice M Sundar ruled.
It was rejecting an appeal filed by the department against an order of the Income Tax Appellate Tribunal, setting aside the penalty imposed on the actor.
The bench further said no substantial questions of law arose in the case and it deserved to be dismissed.
In her Income Tax Return (ITR) for 2010-11, Trisha had initially not disclosed a certain amount received from some sources as income.
Later, she filed a revised return declaring the amount as advance.
However, the assessment officer assessed it as income and levied a penalty of Rs 1.11 crore.
On an appeal moved by Trisha, the I-T commissioner had set aside the penalty order and the official’s decision was upheld by the tribunal.
Source: The New Indian Express