INDUS INDIA,C/O INDUS APPLIANCES PVT LTD vs. ITO, PARWANOO

ITA 852/CHANDI/2026Status: DisposedITAT Chandigarh06 August 2026AY 2016-179 pages
AI SummaryDismissed

What were the facts?

The assessee claimed a 100% deduction under Section 80IC for AY 2016-17, despite a prior revision order (under Section 263) and the assessee's own admission that only a 25% deduction was admissible. The assessee claimed the 100% deduction was due to an inadvertent mistake.

What did the Tribunal hold?

The Tribunal held that the assessee's claim of an inadvertent mistake was not credible, as the issue had been settled in prior proceedings and the admission came only after scrutiny. Therefore, the assessee had furnished inaccurate particulars of income.

What were the issues?

Whether claiming an inadmissible deduction, despite prior adjudication and admission of error, constitutes furnishing inaccurate particulars of income attracting penalty under Section 271(1)(c).

Which sections of the Income-tax Act were involved?

Section 80IC,Section 271(1)(c),Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DIVISION BENCH, ‘B’ CHANDIGARH

Before: SHRI LALIET KUMAR & SHRI VIJAY VARMA

For Appellant: Shri Surinder Babbar,CA
For Respondent: Shri Vivek Vardhan, Addl. CIT, Sr.DR
Hearing: 05.08.2026Pronounced: 06.08.2026

PER LALIET KUMAR, JM

The present appeal has been filed by the assessee feeling aggrieved by the order passed by the ld. Commissioner of Income Tax (Appeals)NFAC [in short ‘the CIT (A)’] dated 21.08.2024 for assessment year 2016-17. 2. The brief facts of the case are that the assessee, a partnership firm, filed its return of income for Assessment Year 2016-17 on 30.09.2016 declaring a total income of Rs.17,320/- after claiming

ITA 852/CHD/2026 A.Y. 2016-17 2 deduction of Rs.64,80,247/- under section 80IC. The assessment was completed under section 143(3) on 23.12.2018

The order continues below.

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