A.K. Bashu Sahib v. CIT

SMT. PUNITA LAL,GURGAON vs. ACIT, NEW DELHI

In the result, the appeal filed by the assessee is allowed

Bench: Smt. Diva Singh & Sh. O.P. Kantassessment Year: 2011-12 Smt. Punita Lal, 909B, The Aralias Vs. Asstt. Commissioner Of Income Tax, Range-47, 3Rd Floor, Block-B, Civic Dlf, Golf Links, Gurgaon Centre, Minto Road, New Delhi. Pan : Abqpl3616A (Appellant) (Respondent) Appellant By Mr. Rupesh Jain, Advocate & Ms. Shaily Gupta, Ca Respondent By Sh. P. Dam Kanunjna, Sr.Dr Date Of Hearing 08.03.2016 Date Of Pronouncement 19.04.2016 Order Per O.P. Kant, A.M.: This Appeal Of The Assessee Is Directed Against Order Dated 24/09/2015 Of Learned Commissioner Of Income-Tax(Appeals) For Assessment Year 2011-12 Confirming The Penalty, Levied Under Section 271(1)(C) Of The Income-Tax Act, 1961 (For Short “The Act”) By The Assessing Officer. The Grounds Of Appeal Raised By The Assessee Are As Under: 1. That The Commissioner Of Income Tax(Appeals) Erred On Facts & In Law In Not Holding That The Impugned Order Dated 24.07.2014 Levying Penalty Of Rs. 18,35,000/- Under Section 271(1)(C) Of The Income Tax Act, 1961 (‘The Act’) Is Without Jurisdiction, Bad In Law & Void-Ab-Initio. 1.1 That The Commissioner Of Income Tax(Appeals) Erred On Facts & In Law In Not Appreciating That The Impugned Penalty Order Was Passed Without Recording Proper Satisfaction In The Assessment

…ition that no penalty under section 271(1)(c) of the Act was leviable in case of voluntary surrender of income before detection by the Assessing Officer, the ld. Authorized Representative relied on the following case laws: 1. Quammer-uddin and sons versus CIT 129 ITR 703 (Delhi High Court) 2. CIT versus blue Star Ltd 357 ITR 669 (Bombay High Court) 3. CIT versus Sunil Chand Gupta, ITA No. 550 of 2009 (Allahabad High Court) 6. Further, in support of the proposition that no penalty under section 271(1)(c) of the Act could be levied in case of voluntary surrender of income by the assessee on detection of bona fide/i…

COMMISSIONER OF INCOME TAX DELH-II vs. KALINDI RAIL NIRMAN ENGG. LTD

The appeal of the revenue is allowed with no order as to costs

…be drawn. The facts in the present case clearly show that the assessee had deliberately under-estimated his income in the two years under appeal.” 10. A Division Bench of this Court was seized with the question in Qammar-ud-din & Sons vs. CIT, (1981) 129 ITR 703, Ranganathan, J. (as he then was) held as follows: - “The obligation of filing of a return is a solemn and important one and should not be undertaken in a lighthearted and careless manner. It may be that, in some circumstances, an assessee may have to estimate its income, but if so, such estimate should have some basis therefor. An asses…

COMMISSIONER OF INCOME TAX DEL vs. M/S USHA INTERNATIONAL LTD.

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.V.EASWAR

…laim for deduction was false or bogus. The filing of the revised return is thus an act of despair and the assessee can gain nothing from it. 17. The judgment of a Division Bench of this Court in Qammar-Ud-Din & Sons v. Commissioner of Income Tax, (1981) 129 ITR 703, heavily relied upon by the counsel for the assessee, cannot come to its aid since in that case the assessee ITA 1696/2006 Page 10 of 13 was not able to set out its correct income in the original return on account of certain handicaps but even before the assessing officer could investigate into the matter or discover a…

COMMISSIONER OF INCOME TAX DEL vs. M/S USHA INTERNATIONAL LTD.

…laim for deduction was false or bogus. The filing of the revised return is thus an act of despair and the assessee can gain nothing from it. 17. The judgment of a Division Bench of this Court in Qammar-Ud-Din & Sons v. Commissioner of Income Tax, (1981) 129 ITR 703, heavily relied upon by the counsel for the assessee, cannot come to its aid since in that case the assessee 2012:DHC:6725-DB ITA 1696/2006 Page 10 of 13 was not able to set out its correct income in the original return on account of certain handicaps but even before the assessing officer could investigate into the mat…