The Tax PublishersSpecial Leave Petition (Civil) Diary No. 8522 of 2007
2020 TaxPub(DT) 4203 (SC) : (2020) 272 TAXMAN 0096

INCOME TAX ACT, 1961

Section 261 Section 271(1)(c)

Where the department preferred SLP to appeal against the judgment of Gujarat High court in CIT v. Hiralal Amritlal Parekh & Co. [TA No. 486 of 2006, dt. 19-9-2006], whereby the High Court held that the penalty proceedings is quasi-criminal proceedings and the burden is on the revenue to establish that the disputed amount represented the income of the assessee and the assessee had consciously concealed the particulars of income, that in this case, nothing of any such has been proved by the revenue. Rather, assessee had disclosed all the details and there was no concealment of any particulars of income, therefore, in such view of the mater, no penalty under section 271(1)(c) was leviable in this respect, the Supreme Court considering the fact that during pendency of SLP, Revenue sought time to re-file matter, granted two weeks' time to revenue to refile SLP, failing which SLP would be treated as dismissed for non-prosecution without further reference to court.

Appeal (Supreme Court) - Special leave petition - Penalty under section 271(1)(c) - Leviability--No concealment of any particulars of income

Department preferred SLP to appeal against the judgment of Gujarat High Court in CIT v. Hiralal Amritlal Parekh & Co. [TA No. 486 of 2006, dt. 19-9-2006], whereby the High Court held that the penalty proceedings is quasi-criminal proceedings and the burden is on the revenue to establish that the disputed amount represented the income of the assessee and the assessee had consciously concealed the particulars of income, that in this case, nothing of any such has been proved by the revenue. Rather, assessee had disclosed all the details and there was no concealment of any particulars of income, therefore, in such view of the mater, no penalty under section 271(1)(c) was leviable in this respect. Held: Counsel for the petitioner prays for time to re-file the matter. That be done within two weeks from today. If the paper book of Special Leave Petition is not re-filed within time as prayed, the same be treated as dismissed for non-prosecution without further reference to the court.

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