M/S. SHREE HATKESHWARA CARGO MOVERS,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 5, PUNE

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ITA 1586/PUN/2018Status: HeardITAT Pune11 January 2022AY 2010-115 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 read with Section 271(1)(c) was vitiated because it did not strike off the inapplicable limb (concealment of income or furnishing inaccurate particulars). Following the Bombay High Court's judgment, the penalty was directed to be deleted.

What were the facts?

During a survey, the assessee offered a sum towards inadmissible expenses and filed a revised return including this amount. The AO imposed a penalty under Section 271(1)(c) for this addition.

What were the issues?

Whether a penalty under Section 271(1)(c) is sustainable when the notice issued under Section 274 does not specify the exact charge by striking off the inapplicable limb.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 274,Section 133A,Section 147,Section 148

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(3)Show list

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

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

For Respondent: Shri S.P. Walimbe

आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपील र्थी / The Appellant; 2. प्रत्यर्थी / The Respondent; 3. The CIT(A), Pune-10 4. The PCIT-3, Pune 5. DR, ITAT, ‘A’ Bench, Pune ग र्ड फ ईल / Guard file. 6.

आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune Date 1. Draft dictated on 11-01-2022 Sr.PS 2. Draft placed before author 11-01-2022 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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