The Tax Publishers2019 TaxPub(DT) 6624 (Mum-Trib)

INCOME TAX ACT, 1961

Section 271(1)(c)

Non accounting/booking of TDS as income in assessee's books of account was due to inadvertent mistake and no penalty under section 271(1)(c) was attracted in the case of assessee.

Penalty under section 271(1)(c) - Validity of - TDS not accounted by assessee -

Penalty under section 271(1)(c) was imposed on assessee because of not accounting/booking of TDS. Held: Non-accounting/booking of TDS as income in assessee's books of account was due to inadvertent mistake and no penalty under section 271(1)(c) was attracted in the case of assessee.

REFERRED : Price Waterhouse Coopers (P.) Ltd. v. CIT (2012) 348 ITR 306 (SC) : 2012 TaxPub(DT) 2967 (SC) CIT v. Reliance Petroproducts (P.) Ltd. (2010) 322 ITR 158 (SC) : 2010 TaxPub(DT) 1683 (SC) SA Builders Ltd. v. CIT (2007) 288 ITR 1 (SC) : 2007 TaxPub(DT) 0833 (SC) CIT v. Somany Evergreen Knits Ltd. (2013) 352 ITR 592 (Bom) : 2013 TaxPub(DT) 1283 (Bom-HC) and CIT v. Bennett Coleman & Co Ltd. (2013) 87 DTR 368 (Bom) : 2013 TaxPub(DT) 1643 (Bom-HC)

FAVOUR : In assessee's favour

A.Y. :

IN THE ITAT, MUMBAI BENCH

R.C. SHARMA, A.M. AND PAWAN SINGH, J.M.

Paytronic Network (P) Ltd. v. Dy. CIT

ITA No. 1417 & 1418/Mum/2018

18 September, 2019

Assessee by: Jitendra Jain, Mahesh O. Rajora (Authorised Representatives)

Revenue by: Chaudhary Arun K. Singh (Departmental Representative)

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