THE PRINCIPAL COMMISSIONER OF INCOME TAX FARIDABAD vs. M/S PIYUSH COLONIZERS LTD.

The appeal is dismissed

Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE AVNEESH JHINGAN

u/s 271(1)(c) of the Act disregarding the facts that the penalty is leviable on contravention of the provisions of a civil statute like Income Tax Act, there being so many judgments that breach of a civil obligation attracts levy of penalty whether the contravention was made by the defaulters with any guilty intentions

M/S.ESCORTS EMPLOYEES ANCILLAR vs. ADDL.COMMISSIONER OF INCOME TA

Bench: MR. JUSTICE AJAY TEWARI,MRS. JUSTICE ALKA SARIN

92,325/- on account of non- genuine sales was already included in the addition of Rs.9,75,333/- made by the Assessing Officer. The Tribunal, therefore, rightly deleted this addition. As regards the benefit of past savings of Rs.4 lacs granted to the appellant, the Assessing Officer himself held that jewellery belongs to the appellant and was, therefore, required