DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE -3, PUNE vs. M/S. SUKANTA THALI, PUNE

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ITA 72/PUN/2018Status: DisposedITAT Pune31 May 2021AY 2013-147 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that penalty under Section 271(1)(c) cannot be imposed if the income is disclosed in the return of income filed by the assessee, even if it was surrendered under survey pressure. The concealment or inaccurate particulars must be evident from the return itself.

What were the facts?

During a survey, the assessee offered Rs. 2.50 Crores as unaccounted income, which was disclosed in the return filed after the survey. The Assessing Officer initiated penalty proceedings under Section 271(1)(c) for concealment of income.

What were the issues?

Whether penalty under Section 271(1)(c) is leviable when undisclosed income is surrendered during survey and disclosed in the return of income. Whether the disclosure in the return of income, after survey, can be considered as concealment.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 133A,Section 143(3)

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, “A” BENCH, PUNE

Before: SHRI INTURI RAMA RAO & SHRI PARTHA SARATHI CHAUDHURY

For Respondent: Shri S.P Walimbe, Shri Pramod Shingte
Hearing: 28.05.2021Pronounced: 31.05.2021

आदेश की प्रधतधलधप अग्रेधषत / Copy of the Order forwarded to : अपीलाथी / The Appellant. 1. प्रत्यथी / The Respondent. 2. 3. The CIT (Appeal), Pune-3 4. The Pr. CIT-2, Pune. धवभागीय प्रधतधनधध, आयकर अपीलीय अधधकरण, “ए” बेंच, 5. पुणे / DR, ITAT, “A” 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 28.05.2021 Sr.PS/PS 2 Draft placed before author 31.05.2021 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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