Any inaccuracy made by assessee in its books of account or otherwis

Income-tax : Any inaccuracy made by assessee in its books of account or otherwise which results in keeping of or hiding a portion of its income is punishable as furnishing inaccurate particulars of its income.

l Where assessee was maintaining two sets of books, one was meant for showing income-tax authorities and the other for himself, that modus operandi did indicate that it was not the case of simplicitor estimation of the income by disbelieving the books of account or other details submitted by an assessee during the course of assessment proceedings; the department was able to lay its hands on the documentary evidence exhibiting the conduct of assessee for avoiding tax and carrying out the business activity out of the regular books. - [2010] 8 TAXMAN 275 (New Delhi - ITAT)