LUBRICARE P LTD., ,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE -14, PUNE

ORDER PER SATBEER SINGH GODARA, J.M. :

This Revenue’s miscellaneous application M.A.No.7/PUN./2023 filed in assessee’s main appeal ITA.No.1052/PUN./2017 seeks to recall/rectify our order dated 04.05.2022 quashing the impugned penalty proceedings itself u/s.271(1)(c) of the Income Tax Act, 1961 (in short "the Act") on account of Assessing Officer’s failure in specifying the corresponding limb as to whether this taxpayer had concealed or furnished inaccurate particulars of it’s taxable income.

Heard both the parties. Case file perused.

2 M.A.No.07/PUN./2023 2. Mr. Murkunde vehemently argued in light of the Revenue’s pleadings that our order dated 04.05.2022 deserve to be recalled once we have not considered hon’ble apex court’s landmark judgment in Mak Data 356 ITR 593 (SC). The fact remains that we have relied on hon’ble jurisdictional high court’s Full Bench decision in Mohd. Farhan A Shaikh vs. ACIT 434 ITR 1 (Bom.) (FB) holding that such failure at the Assessing Officer’s behest in initiating the impugned penalties is very much fatal to validity thereof. We thus see no apparent mistake in our impugned order. The Revenue fails in it’s instant miscellaneous application. Rejected accordingly.

Order pronounced in the open Court on 02.06.2023.