THE ACIT, 3(1), INDORE vs. M/S. SCC PROJECTS PVT. LTD., INDORE

ITA 444/IND/2013Status: DisposedITAT Indore19 January 2018AY 2006-074 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the assessee cannot be held liable for penalty under Section 271(1)(c) as the law was amended after the return was filed. The claim for deduction was made based on the law in force at the time of filing the return.

What were the facts?

The Assessing Officer disallowed deduction under Section 80IA and initiated penalty proceedings. The CIT(A) deleted the penalty, holding that the assessee was entitled to the deduction when the return was filed, as the law was amended subsequently.

What were the issues?

Whether penalty under Section 271(1)(c) can be levied when the deduction was claimed based on the law in force at the time of filing the return, but later amended retrospectively. Whether a debatable issue attracts penalty.

Which sections of the Income-tax Act were involved?

Section 80IA,Section 271(1)(c)

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Income Tax Appellate Tribunal, INDORE BENCH, INDORE

Before: SHRI KUL BHARAT & SHRI MANISH BORAD

For Respondent: Shri Lal Chand, CIT- DR, Shri Sumit Nema, Sr. Adv
Hearing: 10.01.2018Pronounced: 19.01.2018

PER KUL BHARAT, J.M: This appeal by the Revenue is directed against the order of Ld. Commissioner of Income Tax(Appeals)-I, Indore, (in short ‘CIT(A)’), dated 22.02.2013 pertaining to the A.Y. 2006-07. The revenue has raised following grounds of appeal: “On the facts and the circumstances of the case the Ld. CIT(A) has erred in cancelling penalty imposed u/s 271(1)(c) of Rs.1,58,64,985/- without appreciating the fact that assessee furnished inaccurate particulars of income by willfully claiming deduction u/s 80IA, not admissible on facts and law.

2.

On the facts and circumstances of the case, the Ld. CIT(A) has erred in deleting the penalty of Rs.1,58,64,985/- imposed u/s 271

The order continues below.

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