AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

ITA 546/JPR/2024Status: DisposedITAT Jaipur22 July 2024AY 2015-1643 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee's explanation regarding inadvertent mistakes due to adverse working conditions and his wife's lack of tax knowledge was plausible. The Tribunal noted that the assessee corrected the mistakes promptly upon inquiry and had a clean record for many years, thus setting aside the penalty.

What were the facts?

The assessee filed his return of income after the due date, claiming certain deductions and losses. Later, during reassessment proceedings, it was found that the deductions and losses claimed were erroneous and income from other sources was not declared. The Assessing Officer initiated penalty proceedings under Section 271(1)(c) for furnishing inaccurate particulars and concealing income.

What were the issues?

Whether penalty under Section 271(1)(c) is leviable when the assessee makes inadvertent errors in claiming deductions and declaring income due to circumstances beyond his control, and corrects them promptly upon inquiry.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 139(4),Section 147,Section 148,Section 143(3),Section 274

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Income Tax Appellate Tribunal, JAIPUR BENCHES,”SMC” JAIPUR

Before: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, लेखा सदस्य

For Appellant: Adv. &, Adv. राजस्व की ओर से /
For Respondent: Smt. Monisha Choudhary, Addl. CIT
Hearing: 04/07/2024Pronounced: 22/07/2024

PER: RATHOD KAMLESH JAYANTBHAI, AM These bunch of five appeals filed by assessee are arising out of the order of the National Faceless Appeal Centre, Delhi dated 26/02/2024 [here in after ‘NFAC') ] for assessment years 2012-13 to 2016-17 which in turn arise from the order dated 12.12.2018 passed under section 271(1)(c) of the Income Tax Act [ here in after as Act ], by DCIT/ACIT, Circle-01, BTD.

2.

ITA Nos.

The order continues below.

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