Assistant Commissioner of Income Tax-3(2)(1), Mumbai vs. M/S. Lipi Data System Ltd, Mumbai
In the result, the appeal filed by the revenue is dismissed
ITA 5028/MUM/2019[2011-12]Status: DisposedITAT Mumbai11 Feb 2021AY 2011-12
Bench: Shri Shamim Yahya & Shri Pavan Kumar Gadalethe Acit- 3 (2) (1), M/S Lipi Data System बनाम/ Room No. 674, 6 Th Floor, Ltd., Vs. Aayakar Bhavan, 1, Mittal Chambers, M.K. Road, Nariman Point, Mumbai - 400020 Mumbai - 400021 स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No. : Aaacl0916F (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) अपीलाथी ओर से / Shri Brajendra Kumar, Dr Appellant By : प्रत्यथी की ओर None से/Respondent By : सुनवाई की तारीख / Date Of 09/02/2021 Hearing घोषणा की तारीख /Date Of 11/02/2021 Pronouncement आदेश / O R D E R Per Pavan Kumar Gadale: The Revenue Has Filed The Appeal Against The Order Of The Commissioner Of Income Tax (Appeals) -8 M/S Lipi Data System Ltd. Mumbai, Passed U/S. 271 (1) (C) & 250 Of The Income Tax Act, 1961. 2. The Revenue Has Raised The Following Grounds Of Appeal:-
Section 115Section 143Section 14ASection 271Section 271(1)Section 271(1)(c)
…TR 228) has held that in case of concealment of income chargeable to tax by making bogus claim, levy of penalty it Is 271(l)(c) read with Explanation 2 is justified and the decision of Hon'ble Delhi High Court in the case of CIT vs Escorts Finance Ltd (2010) (328 ITR 44) (Del) wherein it is held that in case of a claim made in return of income found to M/s Lipi Data System Ltd. be bogus, it would be treated as a case of concealment or furnishing of inaccurate particulars of income and therefore penalty proceedings would be justified? 4. Whether on the facts and circumstances of the case and in law, the Ld.CIT(A)…
