2013 (3) TMI 649

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..... articulars of income in terms of section 271(1)(c) of the Act. The wrong claim of depreciation in the present case cannot be said to be made with an intention to evade taxes in as much as even after the disallowance of depreciation, the resultant income of the assessee remains a loss. - Decided in favour of assessee.
Shri Shailendra Kumar Yadav, Judicial Member And Shri G.S.Pannu, Accountant Me .....

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..... as subject to a scrutiny assessment u/s.143(3) of the Act dated 14.12.2009 whereby the total loss was determined at ₹ 10,44,425/-. Subsequently, the Assessing Officer has held the assessee guilty of furnishing inaccurate particulars of income within the meaning of section 271(1)(c) of the Act with respect to the amount of ₹ 1,91,085/- disallowed on account of a wrong claim of depreciat .....

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..... rightly imposed in the present case. 6. Having considered the rival submissions, we find that the mere mistake in making of a claim in the return of income would not ipso facto reflect concealment or furnishing of inaccurate particulars of income in terms of section 271(1)(c) of the Act. The wrong claim of depreciation in the present case cannot be said to be made with an intention to evade taxe .....

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