Sundaram Finance Ltd. v. CIT

99 Taxmann.com 152Supreme Court of India2018#863 most cited

What is Sundaram Finance Ltd. v. CIT authority for?

The Supreme Court, by dismissing the Special Leave Petition, affirmed that a penalty notice issued under Section 274 read with Section 271(1)(c) of the Income-tax Act is invalid if the Assessing Officer fails to specify the exact limb (furnishing inaccurate particulars of income or concealment of income) under which the penalty is initiated. This failure to frame a specific charge vitiates the penalty proceedings.

121

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2019 to 2026.

Also referred to as

Sundaram Finance Ltd. v. CIT · Section 271(1)(c) · Section 274 · penalty notice validity · specifying limb · inaccurate particulars of income · concealment of income · SLP dismissal · failure to frame specific charge · vitiates penalty proceedings

Sections most often in play

Section 143(3)Section 271(1)(c)Section 274Section 10ASection 153ASection 153CSection 139(1)Section 143(2)

Issues it is cited on

section 274(1)section 43b(f)section 2(45)section 36(l)(iii)section 211section 271(l)section 32(1)(iia)house property incomesection 140section 271(l)(c)full and true disclosureadditional depreciation

Judgments citing Sundaram Finance Ltd. v. CIT

Jagdamba Prasad Gupta, Delhi vs. ACIT, New Delhi

In the result, appeal of assessee is allowed

ITA 1834/DEL/2016[2011-12]Status: DisposedITAT Delhi21 Jan 2019AY 2011-12

Bench: Shri Bhavnesh Saini & Shri O.P. Kantassessment Year: 2011-12

Section 271(1)Section 271(1)(c)Section 274Section 54

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘G’ NEW DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER & SHRI O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2011-12 Jagdamba Prasad Gupta vs ACIT 108, Block-B, Phase-1, Vivek Vihar, Circle 35(1) Delhi. New Delhi. AEEPG8550R APPELLANT RESPONDENT Assessee by Ms. Kriti Gupta, CA Revenue by Sh. N.K. Bansal, Sr. DR Date of Hearing 21.01.2019 Date of Pronouncement 21.01.2019 ORDER PER SHRI BHAVNESH SAINI, J.M. This appeal by assessee has been directed against the order of Ld. CIT(Appeals)-19, New Delhi dated 15/01/2016 for AY 2011-12, challenging the levy of p…