CIT v. SKY Auto Products Pvt. Ltd.

271 ITR 335High Court2004#15512 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2022.

Judgments citing CIT v. SKY Auto Products Pvt. Ltd.

M/S. Kamlesh Gandhi Infrastructure, Baroda vs. The Dy.CIT, Circle-1(2), Vadodara

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

ITA 1001/AHD/2019[2014-15]Status: DisposedITAT Ahmedabad22 Jun 2022AY 2014-15

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Written SubmissionFor Respondent: Shri V. K. Singh, Sr. DR

Section 143(3)Section 271(1)(c)Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER I.T.A. No. 1001/Ahd/2019 (Assessment Year: 2014-15) M/s. Kamlesh Gandhi Infrastructure Vs. DCIT 3-4, Vaidik Flats, Vrajdham Society Circle-1(2), Opp: PF Office, Akota, Vadodara, Baroda PIN-390020 [PAN No.AAKFK0103G] (Appellant) .. (Respondent) Appellant by: Written Submission Respondent by: Shri V. K. Singh, Sr. DR Date of Hearing 26.04.2022 Date of Pronouncement 22.06.2022 O R D E R PER Ms. MADHUMITA ROY - JM: The instant appeal filed by the assessee is directed against th…

Raj Kumari Maheshwari, Jaipur vs. Dy CIT, CC-II, Jaipur

In the result, this appeal of the assessee is allowed

ITA 125/JPR/2021[2010-11]Status: DisposedITAT Jaipur13 Jun 2022AY 2010-11

For Appellant: Shri R. K. Bhatra (C.A.)For Respondent: Ms Monisha Choudhary (JCIT) a

Section 153ASection 271Section 271(1)(c)

…that assessee was guilty of either furnishing inaccurate particulars or attempting to conceal the income. Thus no penalty can be levied for a bona fide/inadvertent /human error. Further Hon'ble by M.P. High Court in CIT Vs. SKY Auto Products Pvt. Ltd. (2004) 271 ITR 335 held that where the assessee, a new businessman claimed depreciation for the full year in the first year of starting production though he was entitled only to fractional depreciation, it was a case of bonafide mistake on the part of the assessee. Such a ground cannot be a good ground for imposition of penalty u/s 271 (1) (c). The Hon'ble Supreme…

Subhash Sharma, Jaipur vs. DCIT, Circle-6, Jaipur

In the result, appeal of the assessee is allowed

ITA 205/JPR/2020[2014-15]Status: DisposedITAT Jaipur21 Jul 2020AY 2014-15

Bench: Us.

For Appellant: Shri S.R. Sharma (CA) &For Respondent: Smt. Runi Pal (DCIT)

Section 139(1)Section 143(3)Section 147Section 148Section 271(1)(c)Section 274

…ng inaccurate particulars or attempting to conceal the income. Thus no penalty can be levied for a bona fide/inadvertent/human error’. 7 Shri Subhash Sharma, Jaipur. 5.3. Further Hon'ble M.P. High Court in case of CIT vs. SKY Auto Products Pvt. Ltd. (2004) 271 ITR 335 held that where the assessee, a new businessman claimed depreciation for the full year in the first year of starting production though he was entitled only to fractional depreciation, it was a case of bonafide mistake on the part of the assessee. Such a ground cannot be a good ground for imposition of penalty u/s 271(1)(c). 5.4. The Hon'ble Sup…

The Dy. Commr. of Income Tax, Cir.-2, Jamnagar vs. The Jamnagar District Co. Op. Bank Ltd., Jamnagar

In the result, the appeal of the Revenue is dismissed

ITA 247/RJT/2016[2011-12]Status: DisposedITAT Rajkot17 Jun 2019AY 2011-12

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kedia

For Appellant: Shri Praveen Verma, Sr. D.R

Section 271(1)(c)Section 36(1)(viia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “RAJKOT” BENCH, RAJKOT BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER & SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No. 247/Rjt/2016 ("नधा"रण वष" / Assessment Year : 2011-12) Deputy Commissioner of The Jamnagar District बनाम/ Income Tax Co op Bank Ltd., Vs. Circle-2, Jamnagar Sahkar Bhavan, Ranjit Road, Jamnagar "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAAJT0272B .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से /Appellant by : Shri Praveen Verma, Sr. D.R. ""यथ" क" ओर से / None Respondent by : सुनवाई क" तार"ख / Date of 07/05/2019 Hearing घोषणा क"…

Dhanraj Mills P. Ltd, Mumbai vs. ACIT (OSD)-II Cen RG-7, Mumbai

The appeals of the assessee are dismissed

ITA 3830/MUM/2009[1987-88]Status: DisposedITAT Mumbai21 Mar 2017AY 1987-88

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 271(1)(c)Section 273Section 68

…humble opinion, even the decision from Hon’ble Apex Court in Reliance Petro Products (322 ITR 158)(SC) cannot come to the rescue of the assessee. It is not a case of bona-fide mistake wherein a benefit of the decision in CIT vs Skyline Auto Products pvt. Ltd. 271 ITR 335 (MP) can be extended to the assessee, rather it is a case of intentional concealment of income. For imposing penalty u/s 271(1)(c) of the Act either there should be concealment of income or furnishing of inaccurate particulars of income. The term “books of account” referred to in sub-clause(1) of Explanation 5 to section 271(1)(c) of the Act mean…

Brilliant Gems, Mumbai vs. ITO WD 15(2)(3), Mumbai

The appeal of the assessee is allowed

ITA 5610/MUM/2012[2006-07]Status: DisposedITAT Mumbai14 Oct 2015AY 2006-07

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year 2006-07 M/S Brilliant Gems, Ito, 4/301, 1St Floor, Ward 15(2)(3), बनाम/ Sonawala Estate, I B Patel 121, 1St Floor, Matru Mandir, Vs. Road, Goregaon (East), Mumbai Mumbai-400063 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aagfb2219L

Section 271(1)(c)Section 44A

…ot sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding income of the assessee. Likewise, the Hon’ble Apex Court in North Land Development and Hotel Corporation 210 taxman 249 (SC) and CIT vs Skyline Auto Products Ltd. 271 ITR 335 (MP), it was held that when mistake is bona fide, penalty is not imposable u/s 271(1)(c) of the Act. In view of the undisputed fact, available on record and the judicial pronouncements discussed hereinabove, we find merit in the contention of the ld. AR., therefore, we direct the Assessing Officer to delete the penalty. Finally, the appeal of th…