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TMI Blog2015 (7) TMI 1083X X X X Extracts X X X X X X X X Extracts X X X X ..... later on asked for and further particulars could not be furnished on account of sour relationship and the fact that she was not in touch with her brother who had allegedly shifted from Canada, thereafter. In such circumstances, the discretion which has been exercised by the Tribunal, in setting aside the penalty, cannot be said to be perverse or suffering from such illegality which would warrant interference. - Decided in favour of assessee - I. T. A. No. 57 of 2013 (O&M) - - - Dated:- 31-7-2015 - S. J. Vazifdar (ACJ) And G. S. Sandhawalia, JJ. For the Petitioner : Denesh Goyal For the Respondent : Salil Kapoor, Sanat Kapoor JUDGMENT G. S. Sandhawalia, J. 1. The present appeal, filed by the Revenue is directed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y has been levied for the offence of furnishing inaccurate particulars of income by invoking Part B of Explanation 1 below section 271(1)(c) of the Income-tax Act, 1961 ? 3. The respondent, along with the return, had appended a note in the computation of the income that during the relevant year, she had received a gift from her brother to the tune of ₹ 1,33,88,413 and from her sister to the tune of ₹ 1 lakh, through bank drafts which had been credited into her savings bank accounts. On account of explanation sought by the Department, she represented on July 12, 2011, that she had received the gifts as her brother was residing at Canada and her sister was residing at Jalandhar. The evidence in the shape of bank accounts from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the conclusion that on account of failure to substantiate her claim and to furnish the documentary evidence, inaccurate particulars had been furnished and levied penalty, vide order dated February 16, 2012. 6. An appeal was preferred unsuccessfully before the Commissioner of Income-tax (Appeals), Amritsar, by the assessee, which was dismissed on May 29, 2012, as the conclusive confirmation had not been done as the brother and sister had not been produced for confirming the so-called gifts. It was held that they were not the regular income of the appellant but her own income from undisclosed sources which was concealed by her and thereafter, surrendered when detected by the Department. It was noticed that no effort had been made to produ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was residing at Canada. The concealment, as such, in the facts and circumstances, was missing, as admittedly, it was not that the amount was detected subsequently but the factum of the gifts from the brother and sister had been mentioned in the note in the income- tax return. The explanation was later on asked for and further particulars could not be furnished on account of sour relationship and the fact that she was not in touch with her brother who had allegedly shifted from Canada, thereafter. 10. In such circumstances, the discretion which has been exercised by the Tribunal, in setting aside the penalty, cannot be said to be perverse or suffering from such illegality which would warrant interference. The Tribunal has discussed the ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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