2017 (10) TMI 692 - SCH - Income Tax

Penalty u/s 271(1)(c) - revision downwards could not be justified - Held that - SLP dismissed. HC Order confirmed 2016 (10) TMI 1117 - DELHI HIGH COURT stating the assessee is guilty of furnishing inaccurate particulars of income is inappropriate as the Assessing Officer at any point of time has not scrutinized 2003-2004 of the assessment on records and issued any notice before the filing of revised return. Thus, when the error was known to the assessee, the assessee itself has filed the revised return. This act shows that it is not intentional furnishing of inaccurate particulars of income on behalf of the assessee. - Decided against revenue

Summary

The Supreme Court dismissed the Special Leave Petition with condonation of delay. Pending applications were disposed of. Justices A.K. Sikri, Abhay Manohar Sapre, and Ashok Bhushan presided over the case. Counsel included Mr. H. R. Rao, Ms. Sadhna Sandhu, and Mrs. Anil Katiyar.