CIT v. ArsudanaSpinning Mills Ltd.

326 ITR 429High Court2010#10523 most cited

What is CIT v. ArsudanaSpinning Mills Ltd. authority for?

Penalty under Section 271(1)(c) cannot be levied if the assessee disclosed all material facts, and there was neither suppression nor misinterpretation of facts, even if the claim for special deduction was a debatable issue.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2015 to 2024.

Also referred to as

CIT v. Arsudana Spinning Mills Ltd. · 326 ITR 429 · Section 271(1)(c) · Section 80IB · penalty · concealment of income · inaccurate particulars · special deduction · debatable issue

Sections most often in play

Section 271(1)(c)Section 80IB

Judgments citing CIT v. ArsudanaSpinning Mills Ltd.

Neel Kanth Gum and Chemicals, Jhunjhunu vs. ACIT, Circle Jhunjhunu, Income Tax Office, Jhunjhunu

In the result, the appeal of the assesee is allowed

ITA 805/JPR/2023[A.Y. 2012-13]Status: DisposedITAT Jaipur09 Apr 2024

Bench: SHRI SANDEEP GOSAIN (Judicial Member), DR MITHA LAL MEENA (Accountant Member)

For Appellant: Shri G.S. Mehta, CAFor Respondent: Smt. Monisha Choudhary, Addl CIT-DR
Section 143(3)Section 271(1)Section 271(1)(c)Section 80Section 801Section 80I

…sed 14 NEEL KANTH GUM AND CHEMICALS VS ACIT, CIRCLE- JUHNJHUNU material facts and there is neither suppression of the facts nor misinterpreted of facts by the assessee, the order of penalty was not sustainable. 5. CIT vs Arisudana Spinning Mills Ltd. (2010) 326 ITR 429 (P&H) wherein it is held that claim for special deduction u/s 80IA, Details regarding special claim furnished, Claim whether allowable – debatable issue, No concealment of income or furnishing of inaccurate particulars. Penalty u/s 271(1)© could not be levied. 6. CIT vs Raj Overseas (2011) 336 ITR 262 (P&H) wherein it is held that bona fide claim…

DCIT, New Delhi vs. M/S. Ultimate Flexipack Ltd., New Delhi

In the result, ITA No 4883/Del 2011 and CO No

ITA 472/DEL/2013[2006-07]Status: DisposedITAT Delhi31 Dec 2019AY 2006-07

Bench: Shri G.S. Pannu & Shri K. Narasimha Chary

For Appellant: Shri Vijay Kumar Kataria, Sr. D.RFor Respondent: Shri M. P. Rastogi, Adv
Section 132(1)Section 143(3)Section 153ASection 80

…2004-05, 2005-06 & 2006-07 8 concealed or submitted any inaccurate particulars of income and therefore the case of the assessee is squarely covered by the decision of the Hon’ble Punjab and Arianna High Court in the case of CIT vs. ArsudanaSpinning Mills Ltd 326 ITR 429 and the decision of the Hon’ble Apex Court in the case of CIT vs. Reliance Petro Products Private Limited (2010) 230 CTR 320. While following the said additions, Ld. CIT(A) reached a conclusion that the assessee had furnished all the details of income and expenditure in its return, which details in themselves were not found to be inaccurate,the s…

ACIT, New Delhi vs. M/S. Ultimate Flexipack Ltd., New Delhi

In the result, ITA No 4883/Del 2011 and CO No

ITA 4884/DEL/2011[2005-06]Status: DisposedITAT Delhi31 Dec 2019AY 2005-06

Bench: Shri G.S. Pannu & Shri K. Narasimha Chary

For Appellant: Shri Vijay Kumar Kataria, Sr. D.RFor Respondent: Shri M. P. Rastogi, Adv
Section 132(1)Section 143(3)Section 153ASection 80

…2004-05, 2005-06 & 2006-07 8 concealed or submitted any inaccurate particulars of income and therefore the case of the assessee is squarely covered by the decision of the Hon’ble Punjab and Arianna High Court in the case of CIT vs. ArsudanaSpinning Mills Ltd 326 ITR 429 and the decision of the Hon’ble Apex Court in the case of CIT vs. Reliance Petro Products Private Limited (2010) 230 CTR 320. While following the said additions, Ld. CIT(A) reached a conclusion that the assessee had furnished all the details of income and expenditure in its return, which details in themselves were not found to be inaccurate,the s…

ACIT, New Delhi vs. M/S. Ultimate Flexipack Ltd., New Delhi

In the result, ITA No 4883/Del 2011 and CO No

ITA 4883/DEL/2011[2004-05]Status: DisposedITAT Delhi31 Dec 2019AY 2004-05

Bench: Shri G.S. Pannu & Shri K. Narasimha Chary

For Appellant: Shri Vijay Kumar Kataria, Sr. D.RFor Respondent: Shri M. P. Rastogi, Adv
Section 132(1)Section 143(3)Section 153ASection 80

…2004-05, 2005-06 & 2006-07 8 concealed or submitted any inaccurate particulars of income and therefore the case of the assessee is squarely covered by the decision of the Hon’ble Punjab and Arianna High Court in the case of CIT vs. ArsudanaSpinning Mills Ltd 326 ITR 429 and the decision of the Hon’ble Apex Court in the case of CIT vs. Reliance Petro Products Private Limited (2010) 230 CTR 320. While following the said additions, Ld. CIT(A) reached a conclusion that the assessee had furnished all the details of income and expenditure in its return, which details in themselves were not found to be inaccurate,the s…

ACIT, Circle, Panchkula vs. M/S Panchkula Golf Club, Panchkula

In the result, both the above appeals of the Revenue are dismissed

ITA 461/CHANDI/2018[2009-10]Status: DisposedITAT Chandigarh06 Aug 2018AY 2009-10

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

For Appellant: Revenue By : Sh. N.D. GuptaFor Respondent: Sh. N.D. Gupta
Section 143(3)Section 148Section 271Section 271(1)(c)

…e furnished in the return and were before the AO and further, the issue was clearly a debatable one at the time of filing of return by - the appellant. The judgement of Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Arisudana Spinning Mills (2010) 326 ITR 429 (P&H) are squarely applicable to the facts of the case.” 9. We have gone through material before us and find that there is no infirmity in the order of the Ld. CIT(A) based on the judgment cited above as well as the facts related to this case. Hence we hereby decline to interfere in the order of the Ld. CIT(A). 10. In the result, both the above…

ACIT, Circle, Panchkula vs. M/S Panchkula Golf Club, Panchkula

In the result, both the above appeals of the Revenue are dismissed

ITA 462/CHANDI/2018[2011-12]Status: DisposedITAT Chandigarh06 Aug 2018AY 2011-12

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

For Appellant: Revenue By : Sh. N.D. GuptaFor Respondent: Sh. N.D. Gupta
Section 143(3)Section 148Section 271Section 271(1)(c)

…e furnished in the return and were before the AO and further, the issue was clearly a debatable one at the time of filing of return by - the appellant. The judgement of Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Arisudana Spinning Mills (2010) 326 ITR 429 (P&H) are squarely applicable to the facts of the case.” 9. We have gone through material before us and find that there is no infirmity in the order of the Ld. CIT(A) based on the judgment cited above as well as the facts related to this case. Hence we hereby decline to interfere in the order of the Ld. CIT(A). 10. In the result, both the above…

ITO 25(1)(4), Mumbai vs. Bio Vet Industries, Mumbai

Appeal of the Revenue is dismissed

ITA 6243/MUM/2011[2005-06]Status: DisposedITAT Mumbai11 Jan 2017AY 2005-06

Bench: Shri Joginder Singh () & Shri Ashwani Taneja ()

Section 271Section 271(1)(c)Section 801BSection 80I

…ed as a case of concealment of income unless something bogus or fictitious is detected. It is noted by us that the aforesaid judgment of the Chandigarh Bench has been confirmed by Hon’ble Punjab & Haryana High Court vide its order dated 19-11-2009 reported at 326 ITR 429 (P & H). This judgment was subsequently followed by Punjab & Haryana High Court in the case of CIT vs Tudor Knitting Works Pvt Ltd in ITA No.122 of 2012 wherein it was found that penalty was not leviable on the disallowance made by reducing the claim of deduction u/s 80IB. It was held that mere making of the claim, which was not sustainable in la…

ITO 9(2)(3), Mumbai vs. Core Jewellery P.Ltd, Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 529/MUM/2015[2008-09]Status: DisposedITAT Mumbai10 Nov 2016AY 2008-09

Bench: Shri B.R. Baskaran (Am) & Shri Pawan Singh (Jm)

Section 10ASection 2Section 271(1)(c)

…ghav Exports P. Ltd. vs. CIT 349 ITR 112 (Del) 5. CIT vs. EICON International (13) Ltd. 166 Taxman 12 (Del) 6. CIT vs. Lotus Trans Travels (P) Ltd. 177 Taxman 37 (Del) 7. CIT vs. H.M.A. Udyog (P) Ltd. 211 CTR 543 (Del) 8. CIT vs. Arisudana Spinning Mills Ltd. 326 ITR 429 (P&H) 9. Geeta Prints (P) Ltd. vs. ACIT 247 CTR 620 (Guj.) Keeping in view the facts and law discussed supra, the findings of the Assessing Officer that the appellant concealed income by making inadmissible claim and also furnished inaccurate particulars is factually wrong because it is only after the order of the ITAT dated 18.01.2010 for A.Y.…

Asst CIT 4(3), Mumbai vs. Svg Fashions Ltd, Mumbai

In the result, the appeal filed by the Revenue is dismissed

ITA 3250/MUM/2013[2007-08]Status: DisposedITAT Mumbai02 Mar 2016AY 2007-08

Bench: Shri C.N. Prasad & Shri Rajesh Kumarआयकर अपील सं/ I.Ta No.3250/Mum/2013 ("नधा"रण वष" / Assessment Year:2007-08

For Appellant: Shri R.A.DhyaniFor Respondent: Shri Hariom Tulsyan
Section 271(1)(c)Section 80I

…bonafide claim and we do not see any concealment of income or furnishing of 3 inaccurate particulars of such income attracting levy of penalty. The Ld. CIT(A) deleted the penalty observing as under: “ In the case of CIT Vs Arisudana Spinning Mills Ltd (2010) 326 ITR 429 (P&H), Hon’ble High Court held that finding of fact arrived at by the Tribunal cannot be said to be perverse or against the material available on the record. When the returns of income were filed the issue with regard to entitlement of deduction u/s. 80IA on the profits derived from trading turnover i.e. trading in the raw wool and knitted cloth,…

Virtuous Capital Ltd, Navi Mumbai vs. ACIT Cir 2(1), Mumbai

In the result the appeal filed by the assessee is allowed

ITA 5647/MUM/2013[2009-10]Status: DisposedITAT Mumbai19 Nov 2015AY 2009-10

Bench: S/Shri B.R.Baskaran, Am & Pawan Singh, Jm आमकय अऩीर सं./I.T.A. No.5647/Mum/2013 (ननधधायण वषा / Assessment Year: 2009-10) बनाम/ Virtuous Capital Limited, Asstt. Commissioner Of Income 1101/1102, Tax 2(1), Aayakar Bhavan, M K Vs. Maithilli Signet Premises Chs, Road, Plot No.39/4, Sector 30/A, Mumbai-400020 Vashi Navi Mumbai--400705 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

Section 111ASection 271(1)(c)

…icer levied penalty u/s 271(1)(c) of the Act. The Tribunal deleted the penalty by following the decisions rendered by Hon’ble Punjab & Haryana High Court in the following cases:- (a) Sidhdharth Enterprises (322 ITR 80)(P & H) (b) Arisudana Spinning Mills Ltd (326 ITR 429)(P&H) In the case of Sidhdharth Enterprises (supra), the Tribunal had deleted the penalty by holding that the furnishing of inaccurate particulars of income was a silly mistake and not a deliberate attempt to evade tax. The High Court held that the view taken by the Tribunal could not be held to be perverse. 14. In view of the foregoing discussi…