CIT v. Punjab Tyres

162 ITR 517High Court1986#2415 most cited

What is CIT v. Punjab Tyres authority for?

A voluntary surrender of additional income made by an assessee to buy peace or avoid protracted litigation does not automatically constitute an admission of concealment or furnishing inaccurate particulars. Such an act alone cannot justify the levy of penalty under Section 271(1)(c) of the Income-tax Act.

48

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2025.

Also referred to as

CIT v. Punjab Tyres · 162 ITR 517 · 92 Taxmann.com 229 · Section 271(1)(c) · Section 274 · penalty for concealment · surrender to buy peace · admission of income · inaccurate particulars · penalty proceedings

Also reported as

92 Taxmann.com 229

Sections most often in play

Section 133ASection 143(3)Section 147Section 271(1)(c)Section 274

Issues it is cited on

levy of penaltysection 274section 271section 27section 142transferindiaprescribedsection 14section 143(3)interestbusiness

Judgments citing CIT v. Punjab Tyres

ACIT, Central Circle-2(3), Kolkata vs. Shri Ramautar Grourisaria, Kolkata

ITA 153/KOL/2017[2013-14]Status: DisposedITAT Kolkata24 Apr 2019AY 2013-14

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

…tic. Levy of penalty is not only discretionary in nature, but such discretion is required to be exercised on the part of the Assessing Officer keeping the relevant factors in mind. The AR has also brought on record the case of Punjab Tyres Punjab Tyres [1986] 162 ITR 517 (Madhya Pradesh), the Hon'ble High Court of Madhya Pradesh) in which it was held that when surrender is made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. The AR has brought on record the case law of Sudharsan Silk and Sarees, 300 ITR 30 (Supreme C…

ACIT, Central Circle - 2(3), Kolkata vs. Dilip Kumar Modi, Kolkata

ITA 1485/KOL/2017[2014-15]Status: DisposedITAT Kolkata24 Apr 2019AY 2014-15

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

…d litigation filed revised return disclosed disclosing additional income, imposition of penalty under section 271(1)(c) upon assessee on plea that he had furnished inaccurate particulars of income was not justified. Further, in the case of Punjab Tyres [1986] 162 ITR 517 (Madhya Pradesh), the Hon'ble High Court of Madhya Pradesh also held that when surrender is made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. I also rely on the judgement of the Supreme Court of India in the case of Dilip N. Shroff vs. Jt. CIT [20…

Babita Khurana, New Delhi vs. DCIT, Central Circle, Noida

In the result, appeal of assessee is allowed

ITA 4707/DEL/2018[2010-11]Status: DisposedITAT Delhi08 Mar 2019AY 2010-11

Bench: Shri Bhavnesh Saini

For Appellant: AdvocatesFor Respondent: Shri S.L. Anuragi, Sr. D.R
Section 132Section 139(1)Section 143(3)Section 153ASection 271Section 271(1)(c)Section 271BSection 274Section 50C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “SMC” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER ITA.Nos.4707/Del./2018 Assessment Year 2010-2011 Smt. Babita Khurana, The DCIT, B-7/100, Safdarjung vs. Central Circle, Enclave Extn., New Delhi. Noida. PAN AJEPK0089L (Appellant) (Respondent) Shri Sanjay Kumar Garg & Shri Akarsh Garg, For Assessee : Advocates. For Revenue : Shri S.L. Anuragi, Sr. D.R. Date of Hearing : 26.02.2019 Date of Pronouncement : 08.03.2019 ORDER This appeal by assessee has been directed against the order of Learned CIT(A)-IV, Kanpur, Dated 25th April, 2018, for the assessment ye…

DCIT, Central Circle - 2(2), Kolkata vs. M/S. Rashmi Cement Ltd., Kolkata

Appeal is dismissed

ITA 1606/KOL/2017[2013-14]Status: DisposedITAT Kolkata28 Feb 2019AY 2013-14

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.1606/Kol/2017 ("नधा"रण वष" / Assessment Year: 2013-14) Dcit, Central Circle-2(2), Vs. Rashmi Cement Ltd. Kolkata 39, Shakespeare Sarani, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcr 4343 R (Appellant) .. (Respondent) Appellant By : Shri Radhey Shyam, Cit-Dr Respondent By : Shri A. K. Tulsiyan, Fca सुनवाईक"तार"ख/ Date Of Hearing : 21/02/2019 घोषणाक"तार"ख/Date Of Pronouncement : 28/02/2019 आदेश / O R D E R Per Shri S. S. Godara: This Revenue’S Appeal For Assessment Year 2013-14 Arises Against The Commissioner Of Income Tax(A)-20, Kolkata Dated 13.04.2017 Passed In Case No.1119/Cc2(2)/Cit(A)/15-16 Reversing Assessing Officer’S Action Imposing Penalty Of Rs.3,09,69,700/- In His Order Dated 30.09.2015 U/S 271Aab Of The Income Tax Act, 1961 (In Short ‘The Act’). Heard Both The Parties. Case File Perused. 2. We Notice At The Time Of Hearing That This Revenue’S Appeal Suffers From Four Days Delay In Filing. It Filed Condonation Petition 06.07.2017 Describing Reasons Thereof To Various Procedural Formalities At Departmental Level. Learned Counsel Representing Assessee Is Very Fair In Not Disputing The Said Solemn Averments. We Therefore Condone The Impugned Four Days Delay In Filing Of Revenue’S Instant Appeal As Neither Intentional Nor Deliberate.

For Appellant: Shri Radhey Shyam, CIT-DRFor Respondent: Shri A. K. Tulsiyan, FCA
Section 271A

…c. Levy of penalty is not only discretionary in nature, but such discretion is required to be exercised on the part of the Assessing Officer keeping the relevant factors in mind. The AR has also brought on record the case of Punjab Tyres (Punjba) Tyres [1986] 162 ITR 517 (Madhya Pradesh], the Hon'ble High Court of Madhya Pradesh in which it was held that when surrender is made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. The AR has brought on record the case law of Sudharsan Silk and Sarees, 300 ITR 30 (supreme Co…

DCIT, Central Circle - 2(2), Kolkata vs. M/S. Calcutta Industrial Supply Corp., Kolkata

ITA 1610/KOL/2017[2013-14]Status: DisposedITAT Kolkata27 Feb 2019AY 2013-14

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

Section 132(4)Section 271A

…protracted litigation filed revised return disclosing additional income, imposition of penalty under section 271(I)(c) upon assessee on plea that he had furnished inaccurate particulars of income was not justified. Further, in the case of Punjab Tyres [1986] 162 ITR 517 (Madhya Pradesh), the Hon'ble High Court of Madhya Pradesh also held that when surrender is made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. ITA No.1604, 1607 & 1610/Kol/201 & Cos 96-98/K/2017 Assessment Year 2013-14 DCIT.CC-2(2), Kol. Vs. AKA L…

DCIT, Central Circle - 2(2), Kolkata vs. Ambey Mining Pvt. Ltd., Kolkata

ITA 1607/KOL/2017[2013-14]Status: DisposedITAT Kolkata27 Feb 2019AY 2013-14

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

Section 132(4)Section 271A

…protracted litigation filed revised return disclosing additional income, imposition of penalty under section 271(I)(c) upon assessee on plea that he had furnished inaccurate particulars of income was not justified. Further, in the case of Punjab Tyres [1986] 162 ITR 517 (Madhya Pradesh), the Hon'ble High Court of Madhya Pradesh also held that when surrender is made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. ITA No.1604, 1607 & 1610/Kol/201 & Cos 96-98/K/2017 Assessment Year 2013-14 DCIT.CC-2(2), Kol. Vs. AKA L…

DCIT, Central Circle - 2(2), Kolkata vs. Aka Logistics Pvt. Ltd., Kolkata

ITA 1604/KOL/2017[2013-14]Status: DisposedITAT Kolkata27 Feb 2019AY 2013-14

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

Section 132(4)Section 271A

…protracted litigation filed revised return disclosing additional income, imposition of penalty under section 271(I)(c) upon assessee on plea that he had furnished inaccurate particulars of income was not justified. Further, in the case of Punjab Tyres [1986] 162 ITR 517 (Madhya Pradesh), the Hon'ble High Court of Madhya Pradesh also held that when surrender is made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. ITA No.1604, 1607 & 1610/Kol/201 & Cos 96-98/K/2017 Assessment Year 2013-14 DCIT.CC-2(2), Kol. Vs. AKA L…

DCIT, Central Circle - 2(2), Kolkata vs. M/S/ Rashmi Metaliks Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 1608/KOL/2017[2013-14]Status: DisposedITAT Kolkata01 Feb 2019AY 2013-14

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 132Section 132(4)Section 143(3)Section 271(1)(c)Section 271A

…ic. Levy of penalty is not only discretionary in nature, but such discretion is required to be exercised on the part of the Assessing Officer keeping the relevant factors in mind. The AR has also brought on record the case of Punjab Tyres (Punjab Tyres [1986] 162 ITR 517 (Madhya Pradesh), the Hon’ble High Court of Madhya Pradesh) in which it was held that when surrender is made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. The AR has brought on record the case law of Sudharsan Silk and Sarees, 300 ITR 30 (Supreme C…

DCIT, Cental Circle -2(2), Kolkata vs. M/S/ Aryan Minning & Trading Corporation Ltd, Kolakta

In the result, the appeal of the Revenue is dismissed

ITA 1601/KOL/2017[2012-13]Status: DisposedITAT Kolkata01 Feb 2019AY 2012-13

Bench: Sh. A.T.Varkey & Sh. A.L.Sainidcit, M/S. Aryan Mining & Central Circle-2(2), Aayakar V Trading Corporation Ltd., P-1, Hide Lane, 8Th Floor, Bhawan, Poorva, 110 S Shantipally, Kolkata-700073. Kolkata-700107. Pan-Aadca7247B (Appellant) (Respondent) Appellant By Sh. A.K.Singh, Cit Dr Respondent By Sh. A.K.Tulsyan, Fca & Ms. Sikha Agarwal, Aca 27.12.2018 Date Of Hearing 01.02.2019 Date Of Pronouncement

Section 132Section 132(4)Section 143(3)Section 271A

…ic. Levy of penalty is not only discretionary in nature, but such discretion if required to be exercised on the part of the Assessing Officer keeping the relevant factors in mind. The AR has also brought on record the case of Punjab Tyres (Punjab Tyres [1986] 162 ITR 517 (Madhya Pradesh), the Hon'ble High Court of Madhya Pradesh) in which it was held that when surrender is made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. The AR has brought on record the case law of Sundharsan Silk and Sarees, 300 ITR 30 (Supreme…

DCIT, Central Circle - 2(2), Kolkata vs. Shri Liadhar Agarwala, Kolkata

ITA 1605/KOL/2017[2013-14]Status: DisposedITAT Kolkata26 Dec 2018AY 2013-14

Bench: Shri S.S.Godara & Shri, M. Balaganesh

Section 132(4)Section 139Section 143(2)Section 143(3)Section 271A

…protracted litigation filed revised return disclosing additional income, imposition of penalty under section 271(1)(c) upon assessee on plea that he had furnished inaccurate particulars of income was not justified. Further, in the case of Punjab Tyres [1986] 162 ITR 517 (Madhya Pradesh), the Hon'ble High Court of Madhya Pradesh also held that when surrender is made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. I also rely on the judgement of the Supreme Court of India in the case of Dilip N. Shroff v. .Jt.CIT (200…

ACIT, Central Circle - 2(3), Kolkata vs. Vijay Kumar Agarwal, Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 1539/KOL/2017[2013-14]Status: DisposedITAT Kolkata30 Nov 2018AY 2013-14

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

Section 132Section 132(4)Section 143(3)Section 271A

…onary in nature, but such discretion is required to be exercised on 2 A.Y. 2013-2014 Vijay Kumar Agarwal the part of the Assessing Officer keeping the relevant factors in mind. The AR has also brought on record the case of Pubjab Tyres (Pubjab Tyres [1986] 162 ITR 517 (Madhya Pradesh), the Hon'ble High Court of Madhya Pradesh) in which it was held that when surrender is made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. I have considered the findings given by the AO in the penalty order and submissions made by…

ACIT, Central Circle - 2(3), Kolkata vs. Vikash Agarwal, Kolkata

In the result, the cross-objection filed by the assessee is partly allowed

ITA 1540/KOL/2017[2013-14]Status: DisposedITAT Kolkata16 Nov 2018AY 2013-14

Bench: Sh. M.Balaganesh & Sh. S.S.Viswanethra Raviacit, Vs Vishal Agarwal, Central Circle-2(3), Room No.403, 4Thfloor, 547, Block-N, Aayakar Bhawan, Poorva, 110, Shanti Pally, New Alipore, E.M.Bye Pass, Kolkata-700107. Kolkata-700053. Pan-Adcpa9882F Acit, Vikashagarwal, Vs Central Circle-2(3), Room No.403, 547, Block-N, 4Thfloor, Aayakar Bhawan, Poorva, 110, New Alipore, Kolkata- Shanti Pally, E.M.Bye Pass, Kolkata- 700053. 700107. Pan-Adcpa9882F C.O.No.-106/Kol/2017 (In Ita No.1537/Kol/2017) (Assessment Year-2013-14) Vs Vishal Agarwal, Acit, 547, Block-N, Central Circle-2(3), Room New Alipore, No.403, 4Thfloor, Aayakar Kolkata-700053. Bhawan, Poorva, 110, Shanti Pan-Adcpa9882F Pally, E.M.Bye Pass, Kolkata-700107. (Appellant) (Respondent) C.O.No.-107/Kol/2017 (In Ita No.1540/Kol/2017) (Assessment Year-2013-14) Vs Acit, Vikash Agarwal, 547, Block-N, Central Circle-2(3), Room No.403, 4Thfloor, Aayakar Bhawan, Poorva, New Alipore, Kolkata-700053. Pan-Adcpa9882F 110, Shanti Pally, E.M.Bye Pass, Kolkata-700107. (Appellant) (Respondent) Appellant By Sh. G.Hangshing, Cit Dr Respondent By Sh. A.K.Tibrewal, Fca &Amit Agarwal, Adv.

Section 132(4)Section 271A

…C.O.No.-106 & 107/Kol/2017 & ITA No.1537 & 1540 & 1536/KOL/2017 IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “D”, KOLKATA BEFORE SH. M.BALAGANESH, ACCOUNTANT MEMBER AND SH. S.S.VISWANETHRA RAVI, JUDICIAL MEMBER ACIT, vs Vishal Agarwal, Central Circle-2(3), Room No.403, 4thFloor, 547, Block-N, Aayakar Bhawan, Poorva, 110, Shanti Pally, New Alipore, E.M.Bye Pass, Kolkata-700107. Kolkata-700053. PAN-ADCPA9882F ACIT, VikashAgarwal, vs Central Circle-2(3), Room No.403, 547, Block-N, 4thFloor, Aayakar Bhawan, Poorva, 110, New Alipore, Kolkata- Shanti Pally, E.M.Bye Pass, Kolkata- 700053. 700107. PAN-ADCPA9882F…

ACIT, Central Circle - 2(3), Kolkata vs. Vishal Agarwal, Kolkata

In the result, the cross-objection filed by the assessee is partly allowed

ITA 1537/KOL/2017[2013-14]Status: DisposedITAT Kolkata16 Nov 2018AY 2013-14

Bench: Sh. M.Balaganesh & Sh. S.S.Viswanethra Raviacit, Vs Vishal Agarwal, Central Circle-2(3), Room No.403, 4Thfloor, 547, Block-N, Aayakar Bhawan, Poorva, 110, Shanti Pally, New Alipore, E.M.Bye Pass, Kolkata-700107. Kolkata-700053. Pan-Adcpa9882F Acit, Vikashagarwal, Vs Central Circle-2(3), Room No.403, 547, Block-N, 4Thfloor, Aayakar Bhawan, Poorva, 110, New Alipore, Kolkata- Shanti Pally, E.M.Bye Pass, Kolkata- 700053. 700107. Pan-Adcpa9882F C.O.No.-106/Kol/2017 (In Ita No.1537/Kol/2017) (Assessment Year-2013-14) Vs Vishal Agarwal, Acit, 547, Block-N, Central Circle-2(3), Room New Alipore, No.403, 4Thfloor, Aayakar Kolkata-700053. Bhawan, Poorva, 110, Shanti Pan-Adcpa9882F Pally, E.M.Bye Pass, Kolkata-700107. (Appellant) (Respondent) C.O.No.-107/Kol/2017 (In Ita No.1540/Kol/2017) (Assessment Year-2013-14) Vs Acit, Vikash Agarwal, 547, Block-N, Central Circle-2(3), Room No.403, 4Thfloor, Aayakar Bhawan, Poorva, New Alipore, Kolkata-700053. Pan-Adcpa9882F 110, Shanti Pally, E.M.Bye Pass, Kolkata-700107. (Appellant) (Respondent) Appellant By Sh. G.Hangshing, Cit Dr Respondent By Sh. A.K.Tibrewal, Fca &Amit Agarwal, Adv.

Section 132(4)Section 271A

…C.O.No.-106 & 107/Kol/2017 & ITA No.1537 & 1540 & 1536/KOL/2017 IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “D”, KOLKATA BEFORE SH. M.BALAGANESH, ACCOUNTANT MEMBER AND SH. S.S.VISWANETHRA RAVI, JUDICIAL MEMBER ACIT, vs Vishal Agarwal, Central Circle-2(3), Room No.403, 4thFloor, 547, Block-N, Aayakar Bhawan, Poorva, 110, Shanti Pally, New Alipore, E.M.Bye Pass, Kolkata-700107. Kolkata-700053. PAN-ADCPA9882F ACIT, VikashAgarwal, vs Central Circle-2(3), Room No.403, 547, Block-N, 4thFloor, Aayakar Bhawan, Poorva, 110, New Alipore, Kolkata- Shanti Pally, E.M.Bye Pass, Kolkata- 700053. 700107. PAN-ADCPA9882F…

ACIT, Central Circle - 2(3), Kolkata vs. M/S. Shailaja Park Pvt. Ltd., Kolkata

In the result, the cross-objection filed by the assessee is partly allowed

ITA 1536/KOL/2017[2013-14]Status: DisposedITAT Kolkata16 Nov 2018AY 2013-14

Bench: Sh. M.Balaganesh & Sh. S.S.Viswanethra Raviacit, Vs Vishal Agarwal, Central Circle-2(3), Room No.403, 4Thfloor, 547, Block-N, Aayakar Bhawan, Poorva, 110, Shanti Pally, New Alipore, E.M.Bye Pass, Kolkata-700107. Kolkata-700053. Pan-Adcpa9882F Acit, Vikashagarwal, Vs Central Circle-2(3), Room No.403, 547, Block-N, 4Thfloor, Aayakar Bhawan, Poorva, 110, New Alipore, Kolkata- Shanti Pally, E.M.Bye Pass, Kolkata- 700053. 700107. Pan-Adcpa9882F C.O.No.-106/Kol/2017 (In Ita No.1537/Kol/2017) (Assessment Year-2013-14) Vs Vishal Agarwal, Acit, 547, Block-N, Central Circle-2(3), Room New Alipore, No.403, 4Thfloor, Aayakar Kolkata-700053. Bhawan, Poorva, 110, Shanti Pan-Adcpa9882F Pally, E.M.Bye Pass, Kolkata-700107. (Appellant) (Respondent) C.O.No.-107/Kol/2017 (In Ita No.1540/Kol/2017) (Assessment Year-2013-14) Vs Acit, Vikash Agarwal, 547, Block-N, Central Circle-2(3), Room No.403, 4Thfloor, Aayakar Bhawan, Poorva, New Alipore, Kolkata-700053. Pan-Adcpa9882F 110, Shanti Pally, E.M.Bye Pass, Kolkata-700107. (Appellant) (Respondent) Appellant By Sh. G.Hangshing, Cit Dr Respondent By Sh. A.K.Tibrewal, Fca &Amit Agarwal, Adv.

Section 132(4)Section 271A

…C.O.No.-106 & 107/Kol/2017 & ITA No.1537 & 1540 & 1536/KOL/2017 IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “D”, KOLKATA BEFORE SH. M.BALAGANESH, ACCOUNTANT MEMBER AND SH. S.S.VISWANETHRA RAVI, JUDICIAL MEMBER ACIT, vs Vishal Agarwal, Central Circle-2(3), Room No.403, 4thFloor, 547, Block-N, Aayakar Bhawan, Poorva, 110, Shanti Pally, New Alipore, E.M.Bye Pass, Kolkata-700107. Kolkata-700053. PAN-ADCPA9882F ACIT, VikashAgarwal, vs Central Circle-2(3), Room No.403, 547, Block-N, 4thFloor, Aayakar Bhawan, Poorva, 110, New Alipore, Kolkata- Shanti Pally, E.M.Bye Pass, Kolkata- 700053. 700107. PAN-ADCPA9882F…

ACIT, Central Circle-2(3), Kolkata vs. M/S Badrinath Infrastructure Pvt. Ltd., Kolkata

Appeal is dismissed

ITA 154/KOL/2017[2013-14]Status: DisposedITAT Kolkata27 Jul 2018AY 2013-14

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2013-14 Acit, Central Circle- V/S. M/S Badrinath Infrastructure 2(3), Room No. 403, 4Th Pvt. Ltd., 107, Park Street, Floor, Aayakar Bhawan, Kolkata-16 Poorva, 110, Shanti [Pan No.Aaccv 5513 E] Pally; E.M. Bye-Pass, Kolkata-107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri P.K. Srihari, Cit-Dr अपीलाथ" क" ओर से/By Appellant None ""यथ" क" ओर से/By Respondent 09-07-2018 सुनवाई क" तार"ख/Date Of Hearing 27-07-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Revenue’S Appeal For Assessment Year 2013-14 Challenges The Commissioner Of Income Tax (Appeals)-20, Kolkata’S Order Dated 08.11.2016, Passed In Case No.1136/Cit(A)-20/Cc-2(3)/15-16, Reversing Assessing Officer’S Action Imposing Penalty Of ₹85,97,925/- In His Order Dated 29.09.2015, Involving Proceedings U/S. 271(1)(C) Of The Income Tax Act, 1961; In Short ‘The Act’.

Section 132(4)Section 271(1)(c)

…protracted litigation filed revised return disclosing additional income, imposition of penalty under section 271(1)(c) upon assessee on plea that he had furnished inaccurate particulars of income was not justified. Further, in the case of Punjab Tyres [1986] 162 ITR 517 (Madhya Pradesh), the Hon'ble High Court of Madhya Pradesh also held that when surrender is made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. We also rely on the judgemeknt of the Supreme Court of India in the case of Dilip N. Shroff v.Jt. CIT [20…

Beta Maschinenfabrik (P) Ltd., Noida vs. DCIT, Circle- 1, Noida

In the result the appeal of the assessee is allowed

ITA 87/DEL/2018[2009-10]Status: DisposedITAT Delhi19 Jun 2018AY 2009-10

Bench: Shri Bhavnesh Saini

For Appellant: Sh. R.R.Maurya, Adv. and Sh. Rajesh Arora, C.AFor Respondent: Date of Hearing
Section 132Section 148Section 271(1)(c)Section 68

…gh Court held that it is open to A.O. to levy penalty in case, where only upon the assessment being picked up in scrutiny for further enquiry, the assessee has come out with details and had surrendered the income for taxation. (iv) Pr.CIT vs. Dr.Vandana Gupta 92 Taxmann.com 229 (Del) in which the Hon’ble Delhi High Court held that mere voluntary offer of a sum during survey in absence of any explanation for sources of income, invites concealment penalty when original return was silent about the said sum. 8. Ld.Counsel for the assessee in the rejoinder submitted that the facts of these decisions are clearly distin…

Smt. Roshni Devi, Jaipur vs. Income Tax Officer, Jaipur

In the result, the levy of penalty under section 271B is hereby deleted

ITA 953/JPR/2017[2011-12]Status: DisposedITAT Jaipur16 May 2018AY 2011-12

Bench: Us.

For Appellant: Shri N.S. Vyas (Adv)For Respondent: Smt. Poonam Roy (DCIT)
Section 271(1)(c)

…income to purchase peace cannot amount to an admission constituting evidence of concealment in penalty proceedings:- CIT Vs. Girish Devchand Rajani (2013) 33 Taxmann.com 174 (Gujarat) CIT Vs MM Gujamgadi (2007) 162 Taxmann 211 (Kar) CIT Vs Punjab Tyres (1986) 162 ITR 517 (MP) CIT Vs. Jaswant Rai (1997) 142 CTR 49 (P&H) CIT Vs Mecon Builders & Engineers (2001) 248 ITR 159 (Del.) CIT Vs. Manjunatha Cotton & Ginning Factory (2013) ITRV-HC-KAR-093) In the following cases it was also held that penalty u/s 271(1)(c) could not be levied where addition has been made on estimate basis:- Surat Fashions Ltd. Vs ACIT (2011)…

Smt. Roshni Devi, Jaipur vs. Income Tax Officer, Jaipur

In the result, the levy of penalty under section 271B is hereby deleted

ITA 952/JPR/2017[2011-12]Status: DisposedITAT Jaipur16 May 2018AY 2011-12

Bench: Us.

For Appellant: Shri N.S. Vyas (Adv)For Respondent: Smt. Poonam Roy (DCIT)
Section 271(1)(c)

…income to purchase peace cannot amount to an admission constituting evidence of concealment in penalty proceedings:- CIT Vs. Girish Devchand Rajani (2013) 33 Taxmann.com 174 (Gujarat) CIT Vs MM Gujamgadi (2007) 162 Taxmann 211 (Kar) CIT Vs Punjab Tyres (1986) 162 ITR 517 (MP) CIT Vs. Jaswant Rai (1997) 142 CTR 49 (P&H) CIT Vs Mecon Builders & Engineers (2001) 248 ITR 159 (Del.) CIT Vs. Manjunatha Cotton & Ginning Factory (2013) ITRV-HC-KAR-093) In the following cases it was also held that penalty u/s 271(1)(c) could not be levied where addition has been made on estimate basis:- Surat Fashions Ltd. Vs ACIT (2011)…

Smt. Roshni Devi, Jaipur vs. Income Tax Officer, Jaipur

In the result, the levy of penalty under section 271B is hereby deleted

ITA 951/JPR/2017[2011-12]Status: DisposedITAT Jaipur16 May 2018AY 2011-12

Bench: Us.

For Appellant: Shri N.S. Vyas (Adv)For Respondent: Smt. Poonam Roy (DCIT)
Section 271(1)(c)

…income to purchase peace cannot amount to an admission constituting evidence of concealment in penalty proceedings:- CIT Vs. Girish Devchand Rajani (2013) 33 Taxmann.com 174 (Gujarat) CIT Vs MM Gujamgadi (2007) 162 Taxmann 211 (Kar) CIT Vs Punjab Tyres (1986) 162 ITR 517 (MP) CIT Vs. Jaswant Rai (1997) 142 CTR 49 (P&H) CIT Vs Mecon Builders & Engineers (2001) 248 ITR 159 (Del.) CIT Vs. Manjunatha Cotton & Ginning Factory (2013) ITRV-HC-KAR-093) In the following cases it was also held that penalty u/s 271(1)(c) could not be levied where addition has been made on estimate basis:- Surat Fashions Ltd. Vs ACIT (2011)…

DCIT 3(3)(1), Mumbai vs. Reliance General Insurance Company Ltd, Mumbai

The appeal of the revenue is dismissed in terms of our aforesaid observations

ITA 7249/MUM/2016[2007-08]Status: DisposedITAT Mumbai16 Mar 2018AY 2007-08

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7245 To 7249/Mum/2016 (निर्धारण वषा / Assessment Year:2007-08 To 2011-12) Dcit-3(3)(1), M/S Reliance General Room No.609, 6Th Floor, Insurance Company Ltd. बिधम/ Aayakar Bhavan, M.K. Road 570, Rectifier House, Naigum Mumbai-400 020 Cross Road, Next To Royal Vs. Industrial Estate, Mumbai-400 031 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aabcr6747B (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

For Appellant: Shri Jitendra Sanghvi, A.RFor Respondent: Shri M.V. Rajguru, D.R
Section 115JSection 143(2)Section 147Section 148Section 271(1)(c)

…savi Shelters Vs. ITO [2013] 32 taxmann.com 26 (Bangalore- Trib) (vi) Saket Agarwal Vs. ITO [2013] 36 Taxmann.com 293 (Delhi-Trib) (vii) Marathon Nextgen Reality & Textiles Ltd. Vs. DCIT (2013) 36 Taxmann.com 3 (Mumbai-Trib) (viii) CIT Vs. Punjab Tyres (1986) 162 ITR 517 (HC MP) 7. The CIT(A) after deliberating on the facts of the case, observed that the sole basis for characterising the transactions between the assessee and Tuticorin Trexim Pvt. Ltd. as bogus transactions by the A.O was the stand alone statement of Shri Praveen Agarwal which was shared by the DIT (Inv.), Kolkata with him. The CIT(A) further obse…