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| The Tax Publishers2020 TaxPub(DT) 0217 (SC) : (2020) 274 TAXMAN 0457 INCOME TAX ACT, 1961
Section 261 Section 271 (1)(c)
Where the Department preferred SLP to appeal against the judgment of Bombay High Court in Pr. CIT v. Ashokkumar Maneklal Parikh [ITA No. 75 of 2017, dt. 8-4-2019] : 2019 TaxPub(DT) 3699 (Bom-HC), whereby it was held that during the assessment proceedings undoubtedly assessee had made full representation as to why, according to his belief, the receipt was not chargeable to tax, that merely because AO did not accept such a stand of assessee, it would not automatically permit revenue to levy penalty, the Supreme Court dismissed the SLP.
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Appeal (Supreme Court) - Special Leave Petition - Penalty, whether to be imposed automatically after rejection of assessee's claim in quantum proceedings - Validity
Department preferred SLP to appeal against the judgment of Bombay High Court in Pr. CIT v. Ashokkumar Maneklal Parikh [ITA No. 75 of 2017, dt. 8-4-2019] : 2019 TaxPub(DT) 3699 (Bom-HC), whereby it was held that during the assessment proceedings undoubtedly assessee had made full representation as to why, according to his belief, the receipt was not chargeable to tax, that merely because AO did not accept such a stand of assessee, it would not automatically permit revenue to levy penalty. Held: The Supreme Court dismissed the SLP.
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