VIDHU PURI,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 7, PUNE

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ITA 702/PUN/2018Status: DisposedITAT Pune01 June 2021AY 2011-126 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 since taxes were deducted at source on the provident fund amount, no prejudice was caused to the revenue. They also noted the absence of evidence demonstrating deliberate concealment or furnishing of inaccurate particulars, and the assessee's bona fide belief, thus setting aside the penalty.

What were the facts?

The assessee did not disclose interest income from savings and FD accounts and a provident fund withdrawal in their income tax return. The Assessing Officer added these amounts to the total income and initiated penalty proceedings under Section 271(1)(c).

What were the issues?

Whether penalty under Section 271(1)(c) is leviable when there is no loss to the revenue and the assessee claims a bona fide mistake, and whether the penalty proceedings were specific enough.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 273B

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, “B” BENCH, PUNE

Before: SHRI INTURI RAMA RAO & SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Vidhu Puri
For Respondent: Shri Vitthal Bhosale
Hearing: 01.06.2021Pronounced: 01.06.2021

आदेश की प्रधतधलधप अग्रेधषत / Copy of the Order forwarded to : अपीलाथी / The Appellant. 1. प्रत्यथी / The Respondent. 2. 3. The CIT(Appeals)-8, Pune. 4. The Pr. CIT-4, Pune. धवभागीय प्रधतधनधध, आयकर अपीलीय अधधकरण, “बी” बेंच, 5. पुणे / DR, ITAT, “B” Bench, Pune. गार्ा फ़ाइल / Guard File. 6.

आदेशानुसार / BY ORDER, // True Copy // धनजी सधचव / Private Secretary आयकर अपीलीय अधधकरण, पुणे / ITAT, Pune.

Date 1 Draft dictated on 01.06.2021 Sr.PS/PS 2 Draft placed before author 01.06.2021 Sr.PS/PS 3 Draft proposed and placed JM/AM before the second Member 4 Draft discussed/approved by AM/JM second Member 5 Approved draft comes to the Sr.PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr.PS/PS 7 Date of uploading of order Sr.PS/PS 8 File sent to Bench Clerk Sr.PS/PS 9 Date on which the 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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