INCOME TAX ACT, 1961

Section 272A(1)(c)

Penalty under section 272A(1)(c) - Leviability - Non-compliance with summon issued under section 131 -

AO levied penalty under section 272A(1)(c) on account of alleged non-compliance of summon issued under section 131. Assessee submitted that summons under section 131 required assessee to file details in a Compact Disk ('CD'), however, there was no statutory obligation on part of assessee to submit information in the from of CD and filing of details in the form of printouts was sufficient compliance. Held: Even if it was the case of assessee, that there was no requirement to submit details in CD, and submission in form of printout was sufficient the fact remains that there was absence of full compliance even in the form of printouts. Assessee had been provided several opportunities and despite that these required details were not submitted in entirety and only partial compliance by way of submission in the form of printouts had been made. In view of this AO was justified in levying penalty under section 272A(1)(c).

REFERRED :

FAVOUR : Against the assessee

A.Y. : 2005-06

SUBSCRIBE FOR FULL CONTENT