M/S. SHUBHAM DEVELOPERS PROMOTERS AND BUILDERS,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 8, PUNE

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ITA 1556/PUN/2018Status: DisposedITAT Pune10 January 2022AY 2013-145 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the penalty notice issued under Section 274 r.w.s. 271(1)(c) was vitiated because it did not strike off the irrelevant limb of the charge (concealment or furnishing inaccurate particulars). Following the Bombay High Court's Full Bench decision, the penalty was deemed unsustainable.

What were the facts?

During a survey, the assessee offered additional income of Rs. 10,86,800. The assessment was completed at the declared income, and subsequently, a penalty was imposed under Section 271(1)(c) based on this offered income. The CIT(A) upheld the penalty.

What were the issues?

Whether a penalty under Section 271(1)(c) is sustainable when the notice under Section 274 fails to strike off the inapplicable limb of the charge.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 274,Section 133A

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(3)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, PUNE BENCH, ‘A’ PUNE – VIRTUAL COURT

Before: SHRI R.S. SYAL & SHRI S.S.VISWANETHRA RAVI

For Appellant: Ms. Diksha Agarwal
For Respondent: Shri S.P. Walimbe

आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune Date 1. Draft dictated on 10-01-2022 Sr.PS 2. Draft placed before author 10-01-2022 Sr.PS 3. Draft proposed & placed before JM the second member 4. Draft discussed/approved by JM Second Member. 5. Approved Draft comes to the Sr.PS Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *

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