4. CIT v. Zoom Communication (P.) Ltd. T191 Taxman 179 (Delhi)/

George Kutty, New Delhi vs. DCIT, Circle-13(1), New Delhi

In the result, the appeal of the assessee is allowed

Bench: Shri Kul Bharat[Assessment Year : 2010-11] George Kutty, Vs Dcit, C/O-M/S. Oasis Tours India (P.) Circle-13(1), Ltd., C-40, Middle Circle, Dwarka New Delhi. Sadan, Connaught Place, New Delhi-110001. Pan-Aajpk4005H Appellant Respondent Appellant By Shri Manish Malik, Adv. Respondent By Shri Om Parkash, Sr.Dr Date Of Hearing 11.08.2022 Date Of Pronouncement 24.08.2022

…ting of past instance or lack of absence of cross-examination, cannot vitiate the initiation and culmination of penalty proceedings in case of accommodation entry 3. CIT Vs Zoom Communication (P.) Ltd. [191 Taxman 179 (Delhi)/[2010] 327 ITR 510 (Delhi)/[2010] 233 CTR 4651 where Hon’ble Delhi High Court held that If assessee makes a claim which is not only incorrect in law, but is also wholly without any basis and explanation furnished by him for making such a claim is not found to be bona fide, Explanation 1 to section 271(1)(c) would come into play and assessee will be liable to penalty 4. Khandelwal Steel And T…

DCIT, New Delhi vs. M/S Phi Seeds (P) Ltd, Hyderabad

In the result, appeal of the Revenue in ITA

…No express invocation of the Explanation to section 271 in the notice under section 271 is necessary before the provisions of the Explanation therein are applied. 4. CIT Vs Zoom Communication (P.) Ltd. T191 Taxman 179 (Delhi)/[20101 327 ITR 510 (Delhi)/r20101 233 CTR 4651 Where Hon’ble Delhi High Court held that If assessee makes a claim which is not only incorrect in law but is also wholly without any basis and explanation furnished by him for making such a claim is not found to be bona fide, Explanation 1 to section 271(1)(c) would come into play and assessee will be liable to penalty. The Hon’ble Delhi High Co…

DCIT, New Delhi vs. M/S. Phi Seeds Ltd., New Delhi

In the result, appeal of the Revenue in ITA

…No express invocation of the Explanation to section 271 in the notice under section 271 is necessary before the provisions of the Explanation therein are applied. 4. CIT Vs Zoom Communication (P.) Ltd. T191 Taxman 179 (Delhi)/[20101 327 ITR 510 (Delhi)/r20101 233 CTR 4651 Where Hon’ble Delhi High Court held that If assessee makes a claim which is not only incorrect in law but is also wholly without any basis and explanation furnished by him for making such a claim is not found to be bona fide, Explanation 1 to section 271(1)(c) would come into play and assessee will be liable to penalty. The Hon’ble Delhi High Co…

DCIT, New Delhi vs. M/S. Phi Seeds Private Limited, Hyderabad

In the result, appeal of the Revenue in ITA

…No express invocation of the Explanation to section 271 in the notice under section 271 is necessary before the provisions of the Explanation therein are applied. 4. CIT Vs Zoom Communication (P.) Ltd. T191 Taxman 179 (Delhi)/[20101 327 ITR 510 (Delhi)/r20101 233 CTR 4651 Where Hon’ble Delhi High Court held that If assessee makes a claim which is not only incorrect in law but is also wholly without any basis and explanation furnished by him for making such a claim is not found to be bona fide, Explanation 1 to section 271(1)(c) would come into play and assessee will be liable to penalty. The Hon’ble Delhi High Co…