MOHITE AND MOHITE (ENGINEERS AND CONTRACTORS),KOLHAPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLHAPUR, CENTRAL CIRCLE, KOLHAPUR

ITA 286/PUN/2022Status: DisposedITAT Pune22 December 2022AY 2013-147 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that since the entire information regarding the sale of the helicopter was available in the return of income, the error was bona fide and inadvertent. Therefore, the assessee could not be held guilty of furnishing inaccurate particulars or concealing income.

What were the facts?

The assessee firm sold a helicopter and incorrectly calculated depreciation, leading to an addition by the Assessing Officer. Subsequently, penalty proceedings were initiated under Section 271(1)(c) for furnishing inaccurate particulars.

What were the issues?

Whether penalty under Section 271(1)(c) is leviable when the inaccurate particulars arose from a bona fide inadvertent error and not from concealment or deliberate furnishing of false information.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 50,Section 143(3)

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Cases cited in this judgment(4)Show list

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Income Tax Appellate Tribunal, PUNE BENCH “C”, PUNE

Before: SHRI INTURI RAMA RAO & SHRI S. S. VISWANETHRA RAVI

For Respondent: Shri Suhas Kulkarni
Hearing: 21.12.2022Pronounced: 22.12.2022

PER INTURI RAMA RAO, AM: These are the appeals filed by the assessee directed against the separate orders of the ld. CIT(A)-11, Pune [‘the CIT(A)’] dated 15.02.2022 for the assessment years 2013-14, 2014-15 and 2015-16 respectively.

2.

Since the identical facts and common issues are involved in all the above captioned three appeals, we proceed to dispose of the same by this common order.

3.

For the sake of convenience and clarity, the facts relevant to the appeal in ITA No.286/PUN/2022 for the assessment year 2013-14 are stated herein. ITA No.286/PUN/2022, A.Y. 2013-14 :

4.

Briefly, the facts of the case are that the

The order continues below.

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