CIT v. Virgo Marketing (P) Ltd.

171 Taxmann 156High Court2008#193 most cited

What is CIT v. Virgo Marketing (P) Ltd. authority for?

The assessment order must clearly specify the reason for initiating penalty proceedings under Section 271(1)(c) and explicitly state whether it is for concealment of income or furnishing inaccurate particulars. Failure to identify the specific limb under which penalty is initiated renders the penalty unsustainable.

384

judgments rely on this decision, according to BharatTax’s citation analysis of 367,368 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Virgo Marketing · Section 271(1)(c) · initiation of penalty proceedings · assessment order · specific charge · concealment of income · furnishing inaccurate particulars · levy of penalty · Section 274 · Section 270A

Issues it is cited on

Judgments citing CIT v. Virgo Marketing (P) Ltd.

Allwyn D Vaz, Mumbai vs. ITO WD 26(2)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 600/MUM/2015[2010-11]Status: DisposedITAT Mumbai08 Aug 2016AY 2010-11

Bench: Shri R.C.Sharmaआमकय अऩीर सं./Ita No.600/Mum/2015 (नििाारण वषा / Assessment Year :2010-2011) Shri Allwyn D. Vaz, 103, 10 Raag Vs. Ito Wd-26(2)(1), Mumbai Complex, Opposite Royal Challenge Restaurant, Nr. Dindoshi Depot, Goregaon (East), Mumbai-400063 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaipv 3139 K (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri V.D.Parmar याजस्व की ओर से /Revenue By : Shri Pradeep Kumar Singh सुनवाई की तायीख / Date Of Hearing : 08/08/2016 घोषणा की तायीख/Date Of Pronouncement 08/08/2016 आदेश / O R D E R

For Appellant: Shri V.D.ParmarFor Respondent: Shri Pradeep Kumar Singh
Section 271Section 271(1)(c)Section 274

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ ‘एस.एम.सी’, म ुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL “SMC”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, ACCOUNTANT MEMBER आमकय अऩीर सं./ITA No.600/Mum/2015 (नििाारण वषा / Assessment Year :2010-2011) Shri Allwyn D. Vaz, 103, 10 Raag Vs. ITO WD-26(2)(1), Mumbai Complex, Opposite Royal Challenge Restaurant, Nr. Dindoshi Depot, Goregaon (East), Mumbai-400063 स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. : AAIPV 3139 K (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee by : Shri V.D.Parmar याजस्व की ओर से /Revenue by : Shri Pradeep Kumar Singh सुनवाई की तायीख / D…