9911796707
TMI Blog2008 (3) TMI 621X X X X Extracts X X X X X X X X Extracts X X X X ..... ounsel for the assessee submitted that all material facts relevant for the assessment in this case were filed before the Assessing Officer and therefore, no case of penalty under section 271(1)(c) of the Act is made out by the Department. The learned Departmental representative has opposed the submission of learned counsel for the assessee. He has relied on the order of the Assessing Officer and t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come for the year under consideration and stated that the above investment has been made by him from the income earned in the current accounting year from gambling. Regarding payment of tax due on this additional income, the assessee requested the concerned Commissioner of Income-tax to auction the ornaments seized from him and adjust the proceeds thereof against the tax due from him and despite s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est unless it is accompanied by an authorization specifically permitting the chartered accountant to take any action with regard to the assets of the appellant. In these facts of the case, the Commissioner of Income-tax (Appeals) has confirmed the penalty by observing that such an invalid request cannot be construed as a constructive payment of taxes. We find that this approach of the Commission ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that no case of imposition of penalty for concealment of income or filing inaccurate particulars of income under section 271(1)(c) of the Act is made out by the Department and accordingly the penalty imposed under section 271(1)(c) is cancelled and the grounds of appeal of the assessee are allowed. In the result, the appeal of the assessee is allowed. The order pronounced in the open court at t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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