INCOME TAX ACT, 1961

Section 271(1)(c)

Penalty under section 271(1)(c) - Leviability - Notices issued not struck off the portion which were inapplicable -

Revenue raised an appeal that Tribunal was not right in law and fact, in deleting the penalty levied under section 271(1)(c). Revenue held that revised returns filed by assessee indicated that the disclosures were made only by piecemeal and such disclosure did not relieve assessee of the requirement of paying penalty. Assessment order in the present case makes reference to concealment and/or inaccurate particulars. Assessee pointed out that there was absolutely no finding as regards concealment or furnishing of inaccurate particulars Held: In the present case, it was apparent that inapplicable portions have not been struck off. This coupled with the fact adverted leaves no ground for interference with the impugned order. Order was quite consistent with the law laid down in the case of Samson Perinchery [2017 TaxPub(DT) 0672 (Bom-HC)] and New Era Sova Mine [2019 TaxPub(DT) 6063 (Bom-HC)] and therefore, warrants no interference. Notice in the present case was itself defective and further, there was no finding or satisfaction recorded in relation to concealment or furnishing of inaccurate particulars

REFERRED : MAK Data (P) Ltd. v. CIT (2013) 38 Taxmann.com 448 (SC) : 2013 TaxPub(DT) 2358 (SC) Pr. CIT v. New Era Sova Mine 2019 SCC OnLine Bom 1032 : 2019 TaxPub(DT) 6063 (Bom-HC) CIT v. Shri Samson Perinchery (2017) 392 ITR 4 (Bom) : 2017 TaxPub(DT) 0672 (Bom-HC)

FAVOUR : In assessee's favour

A.Y. :

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