M/S.CRYSTAL PACKAGING INDUSTRIES,MUMBAI vs. INCOME TAX OFFICER -1(1), KALYAN

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ITA 2005/MUM/2018Status: DisposedITAT Mumbai26 September 2018AY 2013-145 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the penalty imposed under Section 271(1)(c) as the assessee's claim for deduction was in violation of the law. No new facts or contrary judgments were presented to challenge the findings of the lower authorities.

What were the facts?

The assessee, a partnership firm engaged in manufacturing plastic packing materials, claimed deduction under Section 80IC for the sixth consecutive year, violating the provisions of the Act. The Assessing Officer initiated penalty proceedings for furnishing inaccurate particulars of income.

What were the issues?

Whether penalty under Section 271(1)(c) is leviable for claiming deduction under Section 80IC in the sixth consecutive year, which is a violation of the statutory provision.

Which sections of the Income-tax Act were involved?

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

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C”

Before: HON’BLE SH. R. C. SHARMA, AM & HON’BLE SH. SANDEEP GOSAIN, JM

For Appellant: Shri Abi Rama, DR सुनवाईकीतारीख/

ITO– 1(1) M/s Crystal Packaging 1st floor, Mohan Plaza Industries, Wayale Nagar, Gala No. 1, Sr. No. 25/8, बिधम/ Khadakpad, Kalyan (west) Bhoir Compound, Behind Vs. Shanti Sagar, Narpoli, Kalian, Thane-421 301 Bhiwandi, Thane – 421 302 स्थायीलेखासं./जीआइआरसं./ PAN No. AAFFC2277C (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant by : None प्रत्यथीकीओरसे/Respondentby : Shri Abi Rama Karthikiyen, DR सुनवाईकीतारीख/ : 25.09.2018 Date of Hearing घोषणाकीतारीख / : 26.09.2018 Date of Pronouncement आदेश / O R D E R

Per Sandeep Gosain, Judicial Member:

1.

The present Appeal filed by the assesseeis against the order of Ld. CIT (Appeal) – 2, Thane dated 11.01.18 for AY 2013-14. M/s Crystal Packaging Industries,

2.

At the very outset, it is noticed that none has appeared on behalf of assessee in spite of several calls and even no application for adjournment was moved. On the other hand Ld. DR is present in the court and is ready with arguments. Therefore we have decided to proceed with the hearing of the case ex-parte with the assistance of the Ld. DR and the material placed on record.

3.

The brief facts of the case are that the assessee is partnership firm, engaged in the business of manufacturing of plastic packing materials. The return of income declaring total income of Rs. 650/- was filed on 28.09.13. The assessee had claimed 80IC in the sixth of consecutive year in violation of the provision of 80IC of the I.T. Act. Therefore penalty proceeding u/s 271(1)(c) of the I.T. Act was initiated and order of penalty dated 29.09.16 was passed against the assessee for furnishing inaccurate particulars of income and concealing his true and correct income.

M/s Crystal Packaging Industries, Aggrieved by the order of AO, assessee preferred appeal before Ld. CIT(A) and Ld. CIT(A) after considering the case of both the parties, dismissed the appeal of the assessee.

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