A.M. Shah & Co. v. CIT

238 ITR 415High Court1999#2211 most cited

What is A.M. Shah & Co. v. CIT authority for?

A penalty under Section 271(1)(c) for furnishing inaccurate particulars of income is not attracted if the assessee offers a bonafide explanation, even though the distinction between concealment and furnishing inaccurate particulars can be thin or overlap.

52

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Also referred to as

A.M. Shah & Co. v. CIT · 238 ITR 415 · Section 271(1)(c) · penalty · bonafide explanation · furnishing inaccurate particulars · concealment of income · overlap inaccurate particulars and concealment · Gujarat High Court

Sections most often in play

Section 271(1)(c)Section 133ASection 139(5)Section 143(2)Section 143(3)Section 250Section 54F

Issues it is cited on

section 274(1)section 43b(f)section 2(45)section 36(l)(iii)section 211section 271(l)section 32(1)(iia)house property incomesection 140full and true disclosuresection 271(l)(c)additional depreciation

Judgments citing A.M. Shah & Co. v. CIT

KHODIYAR ORGANISERS, SURAT,SURAT vs. ACIT, CIRCLE-2(3), SURAT, SURAT

In the result, the appeal of the assessee is allowed

ITA 36/SRT/2024[2015-16]Status: DisposedITAT Surat13 Aug 2025AY 2015-16

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita No.36/Srt/2024 Assessment Year: (2015-16) (Hybrid Hearing) M/S Khodiyar Organisers, Vs. Acit, Central Plaza, Near Om Terrace, Circle – 2(3), New City Light Road, Surat – Surat 395007, Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aakfk1498A (Appellant) (Respondent) Appellant By Shri P. M. Jagasheth, Ca Respondent By Shri Ajay Uke, Sr. Dr Date Of Hearing 21/07/2025 Date Of Pronouncement 13/08/2025

Section 133ASection 139(5)Section 143(2)Section 250Section 271(1)(c)

…onsequent upon the incriminating documents related to ‘on money’ receipt found during the course of survey proceedings. The CIT(A) has relied on the following decision, viz., Snita Transport Pvt. Ltd. vs. ACIT, 42 taxmann.com 54 (Guj.), AM Shah & Co. vs. CIT, 238 ITR 415 (Guj.), Bharatkumar G. Rajani vs. DCIT, 40 taxman.com 344 (Guj.), CIT vs. Vidyagauri Natvartlal, 238 ITR 91 (Guj.), Chemmanchery Estate Co. vs. ITO, 111 taxmann.com 66 (Mad.) and CIT vs. N. Jayprakash, 99 taxmann.com 443 (Ker.). Accordingly, the CIT(A) dismissed the appeal of the assessee. 6. Aggrieved by the order of CIT(A), the assessee filed a…

DCIT, CIRCLE 22(2), NEW DELHI, NEW DELHI vs. SAHIL VACHANI, DELHI

Appeal of the Revenue stands dismissed

ITA 2604/DEL/2023[2016-17]Status: DisposedITAT Delhi23 Jun 2025AY 2016-17

Bench: Shri Mahavir Singh, Vice Presdient (), Shri Vikas Awasthy& Shriavdhesh Kumar Mishraआअसं.2604/िद"ी/2023(िन.व. 2016-17)

For Appellant: S/Shri Anuj Garg & Narpat Singh, Sr.DRFor Respondent: S/Shri Rohan Khare & Priyam
Section 271(1)(c)Section 54F

…. Once the explanation offered is a bonafide explanation, it does not attract the penalty u/s. 271(1)(c) of the Act for furnishing of inaccurate particulars of income. 8.4 Similarly, the decision of the Hon’ble Gujarat High Court in the case of A M Shah & Co. 238 ITR 415 also speaks about furnishing of information and explanation, which is bonafide. In the present case before me, the assessee during assessment proceedings filed the complete details as noted above including the purchase of the property and entering into an agreement for construction of house with the builder. 8.5 Admittedly, it is established that…

SHRI.PRAKASH R. NAIR,KOLLAM vs. DCIT, KOLLAM

In the result, the assessee’s appeal is partly allowed for statistical purposes

ITA 141/COCH/2021[2000-2001]Status: DisposedITAT Cochin17 Jan 2024AY 2000-2001

Bench: Shri Sanjay Arora & Shri Manomohan Dasprakash R. Nair Dy.Cit, Central Circle Prop. Dhanya Foods Kollam Kochuppilammoodu Vs. Kollam 691001 [Pan:Abfpn4424P] (Appellant) (Respondent)

For Appellant: Shri R. Vijayaraghavan, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 143(1)Section 148(1)Section 271(1)(c)Section 274Section 80Section 801A(9)Section 80HSection 80I

…sidering the assessee’s explanation? The difference between the two may in the facts of a case may even otherwise be very thin, as observed in Sivagaminatha Moopnar & Sons v. CIT [1964] 52 ITR 591 (Mad), or may overlap, as noted in A.M. Shah & Co. v.CIT[1999] 238 ITR 415 (Guj). The dismissal of the SLP by the Hon’ble Apex Court in S.S. Emrald’s case is not per a speaking order. In Sum 7.1 We may capsule our findings. There have to be, it may be appreciated, strong reasons for selling goods at rate/s below par, much less recovering indirect cost as well, as also including an element of profit, more so where it is…

YOONUS KADAVATH PEEDIKAYIL,KANNUR vs. ITO WARD 1 & TPS, KANNUR

In the result, the appeal by the assessee is dismissed

ITA 913/COCH/2022[2016-17]Status: DisposedITAT Cochin25 Sept 2023AY 2016-17

Bench: Shri Sanjay Arora & Shri Manomohan Dasyoonus Kadavath Peedikayil The Income Tax Officer M/S. Modern Enterprises Ward – 1 & Tps Kakkad Road Vs. Aayakar Bhavan Kannur 670005 Kannothumchal [Pan:Ccwpk6415P] Chovva P.O., Kannur 670006 (Appellant) (Respondent) Appellant By: Shri R. Krishnan, Ca Respondent By: Smt. J.M. Jamuna Devi, Sr. D.R.

For Appellant: Shri R. Krishnan, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 143(3)Section 271(1)(c)Section 274Section 44A

…lead to the same default being deemed by law, i.e., of concealment of particulars of Page 6 Yoonus Kadavath Peedikayil vs. ITO income? Why, in many a case the two may overlap or the difference a thin line, often blurred, as observed in A.M. Shah v. CIT [1999] 238 ITR 415 (Guj), to though no legal effect inasmuch as Explanation 1 to s. 271(1)(c), as is trite law, clarified by the Apex Court, as in Dilip Shroff v. Jt. CIT [2007] 291 ITR 519 (SC), is applicable to both limbs of the provision. Again, even as observed by the Bench during hearing, penalty u/s. 271(1)(c) may be initiated on more than one adjustment to t…

SOUTH EASTERN COALFIELDS LIMITED, BILASPUR,BILASPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

ITA 42/RPR/2023[2016-17]Status: DisposedITAT Raipur09 Jun 2023AY 2016-17

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

SOUTH EASTERN COALFIELDS LIMITED, BILASPUR,BILASPUR vs. ASSISSTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

ITA 41/RPR/2023[2015-16]Status: DisposedITAT Raipur09 Jun 2023AY 2015-16

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

SOUTH EASTERN COALFIELDS LIMITED, BILASPUR,BILASPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

ITA 40/RPR/2023[2014-15]Status: DisposedITAT Raipur09 Jun 2023AY 2014-15

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

SOUTH EASTERN COALFIELDS LIMITED, BILASPUR,BILASPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

ITA 39/RPR/2023[2013-14]Status: DisposedITAT Raipur09 Jun 2023AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

SOUTH EASTERN COALFIELDS LIMITED,BILASPUR vs. JT. COMMISSIONER OF INCOME TAX (OSD), CIRCLE-1(1), BILASPUR

ITA 66/RPR/2021[2010-11]Status: DisposedITAT Raipur09 Jun 2023AY 2010-11

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1), BILASPUR vs. SOUTH EASTERN COALFIELDS LIMITED, BILASPUR

ITA 170/RPR/2018[2012-13]Status: DisposedITAT Raipur09 Jun 2023AY 2012-13

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

SOUTH EASTERN COALFIELDS LIMITED,BILASPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -1(1), BILASPUR

ITA 167/RPR/2018[2012-13]Status: DisposedITAT Raipur09 Jun 2023AY 2012-13

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

THE DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE 1(1)BILASPUR, BILASPUR(CG) vs. THE SOUTH EASTERN COAL FIELDS LTD., BILASPUR, BILASPUR(CG)

ITA 97/BIL/2017[2011-12]Status: DisposedITAT Raipur09 Jun 2023AY 2011-12

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

THE SOUTH EASTERN COAL FIELDS LTD., BILASPUR,BILASPUR(CG) vs. THE DY. COMMISSIONER OF INCOME TAX,CIRCLE , 1(1)BILASPUR, BILASPUR(CG)

ITA 163/BIL/2017[2010-11]Status: DisposedITAT Raipur09 Jun 2023AY 2010-11

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

SOUTH EASTERN COAL FIELDS LTD.,,BILASPUR(CG) vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -1(1), BILASPUR(CG)

ITA 144/BIL/2017[2011-12]Status: DisposedITAT Raipur09 Jun 2023AY 2011-12

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -1(1), BILASPUR(CG) vs. SOUTH EASTERN COAL FIELDS LTD.,, BILASPUR(CG)

ITA 143/BIL/2017[2010-11]Status: DisposedITAT Raipur09 Jun 2023AY 2010-11

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

SOUTH EASTERN COALFIELDS LTD,BILASPUR(CG) vs. DY.. C.I.T.-1(1), BILASPUR(CG)

ITA 156/BIL/2014[2009-10]Status: DisposedITAT Raipur09 Jun 2023AY 2009-10

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

THE DY. CIT- CIR.-1(1),, BILASPUR(CG) vs. SOUTH EASTERN COALFILDS LTD.,, BILASPUR(CG)

ITA 152/BIL/2014[2009-10]Status: DisposedITAT Raipur09 Jun 2023AY 2009-10

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 271(1)(c)

…ng the taxable income to that extent and thus, it amounts to giving inaccurate particulars of income in the return. The explanation offered by the appellant company is neither bonafide nor substantiated. Reliance is placed in the decision of A.M. Shah Vs. CIT 238 ITR 415 (Guj); CIT Vs. Smt. P.K. Kocharnmu Anna, Peroke 125 ITR 624; ACIT Vs. Khanna & Annadhnarn 142 TTJ 1 (Del) and it is held that penalty for furnishing such inaccurate particulars of expenses attracts penalty u/s 271(1)(c) of the Act. The position of law emerging from the factual matrix of the case in Reliance Petro Products Pvt. Ltd Vs. CIT is that…

SMT. AMINA ANVAR,KOLLAM vs. THE DCIT, CIRCLE 1, ALAPPUZHA, ALAPPUZHA

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

ITA 850/COCH/2022[2016-2017]Status: DisposedITAT Cochin09 Mar 2023AY 2016-2017

Bench: Shri George George K. & Ms. Padmavathy S.Amina Anvar Vs Dcit,Circle -1 Alappuzha City Opticals, Pipson Complex Pada South, Karunagappally Kollam Kerala-690 518 Pan – Agmpa5574B (Appellant) (Respondent) Assessee By: Sri. Rajakannan, Advocate Revenue By: Smt. J.M. Jamuna Devi, Sr. Ar Date Of Hearing: 02.03.2023 Date Of Pronouncement: 09.03.2023 O R D E R Per: George George K., J.M. This Appeal At The Instance Of The Assessee Is Directed Against The Order Of The Cit(A)/Nfac, Delhi Dated 30.06.2022 Passed Under Section 250 Of The Income Tax Act, 1961 (The Act). The Relevant Assessment Year Is 2016-17. 2. The Solitary Issue That Arises For Our Consideration Is Whether The Ld.Cit(A) Is Justified In Confirming The Imposition Of Penalty U/S. 271(1)(C) Of The I.T.Act Amounting To Rs. 38,669/-.

For Appellant: Sri. Rajakannan, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. AR
Section 143(3)Section 250Section 271(1)Section 271(1)(C)Section 271(1)(c)Section 37

…mposed has violated principles of natural justice. It was submitted that penalty provision have to be strictly construed. In this context, the ld. AR relied on the judgment of the Hon’ble Gujarat High Court in the case of A.M.Shah & Company vs CIT reported in 238 ITR 415 (Gujarat). 8. The ld. DR on the other hand supported the orders of the AO and the ld.CIT(A). 9. We have heard the rival submissions and perused the material available on record. The Penalty u /s. 271(1)(c) of the Act can be initiated for i) concealment particulars of income or ii) furnishing inaccurate particulars of such income. Admittedly, in…

SAROSH YAZDANI,BHUBANESWAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, all the appeals of the assessee stand allowed

ITA 214/CTK/2020[2008-09]Status: HeardITAT Cuttack03 Nov 2022AY 2008-09

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiait(Ss)A No A No.53/Ctk/2013: Assessment Year Assessment Years :2004-05 It(Ss)A No A No.54/Ctk/2013: Assessment Year Assessment Years :2005-06 It(Ss)A No A No.55/Ctk/2013: Assessment Year Assessment Years :2007-08 It(Ss)A No A No.67/Ctk/2013: Assessment Year Assessment Years :2006-07 It(Ss)A No A No.68/Ctk/2013: Assessment Year Assessment Years :2008-09

For Appellant: Shri Sunil Mishra, ARFor Respondent: Shri M.K.Gautam, CIT
Section 132Section 139(1)Section 144

…. E.V. Rajan (151 ITR 189)(Madras High Court), CIT Vs. Hoshiarpur Express Transport Co. Ltd. (162 ITR 393) (Punjab & Haryana High Court), CIT Vs. Fazilka Dabwali Transport Co. (P.) Ltd. (178 ITR 656) (Punjab & Haryana High Court), and A.M. Shah & Co. Vs. CIT (238 ITR 415) (Gujarat High Court). It was further held that even the feeble plea on behalf of the assessee that penalty had been initiated for concealment of income while had been levied for furnishing inaccurate particulars of thereof was not correct since both the Assessing Officer and the CIT(A) had levied penalty because the assessee concealed his income…

SAROSH YAZDANI,BHUBANESWAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, all the appeals of the assessee stand allowed

ITA 213/CTK/2020[2007-08]Status: HeardITAT Cuttack03 Nov 2022AY 2007-08

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiait(Ss)A No A No.53/Ctk/2013: Assessment Year Assessment Years :2004-05 It(Ss)A No A No.54/Ctk/2013: Assessment Year Assessment Years :2005-06 It(Ss)A No A No.55/Ctk/2013: Assessment Year Assessment Years :2007-08 It(Ss)A No A No.67/Ctk/2013: Assessment Year Assessment Years :2006-07 It(Ss)A No A No.68/Ctk/2013: Assessment Year Assessment Years :2008-09

For Appellant: Shri Sunil Mishra, ARFor Respondent: Shri M.K.Gautam, CIT
Section 132Section 139(1)Section 144

…. E.V. Rajan (151 ITR 189)(Madras High Court), CIT Vs. Hoshiarpur Express Transport Co. Ltd. (162 ITR 393) (Punjab & Haryana High Court), CIT Vs. Fazilka Dabwali Transport Co. (P.) Ltd. (178 ITR 656) (Punjab & Haryana High Court), and A.M. Shah & Co. Vs. CIT (238 ITR 415) (Gujarat High Court). It was further held that even the feeble plea on behalf of the assessee that penalty had been initiated for concealment of income while had been levied for furnishing inaccurate particulars of thereof was not correct since both the Assessing Officer and the CIT(A) had levied penalty because the assessee concealed his income…

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