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TMI Blog2016 (8) TMI 816X X X X Extracts X X X X X X X X Extracts X X X X ..... e AO could not clearly specify that assessee was guilty of either concealment of income or of furnishing of inaccurate particulars of income. See Commissioner of Incometax, Ahmedabad v. Reliance Petroproducts (P.) Ltd. reported in [2010 (3) TMI 80 - SUPREME COURT ] - Decided in favour of the assessee - TAX APPEAL NO. 1979 of 2010 - - - Dated:- 11-8-2016 - MR. KS JHAVERI AND MR. G.R.UDHWANI, JJ. FOR THE APPELLANT : MR SUDHIR M MEHTA, ADVOCATE FOR THE OPPONENT : MR BD KARIA with MR DARSHAN R PATEL for MR RK PATEL, ADVOCATE(s) ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE KS JHAVERI) 1) By way of this Appeal, the Appellant Department has challenged the order dated 19.03.2010 of the Income Tax Appellate Tribunal, Ahm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... remittance of the amount of ₹ 69.97 Lakhs. Pursuant to issuance of letter by the Department dated 24.08.2005, the assessee filed revised return on 31.08.2005, wherein he offered an amount of ₹ 69.97 Lakhs of foreign remittance as income from other sources stating that revised return of income is filed since the residential status of the assessee was wrongly considered as a non-resident instead of a resident. Therefore the above amount was added to the total income as per original return of income and an amount of ₹ 1,00,000/= on account of low household expenses was also added to the total income. For these additions, proceedings u/s. 274 r.w.s. 271(1)(c) of the Act were initiated. After considering the explanation subm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y of penalty under section 271(1)(c) of the Act, the AO has to arrive at a positive finding as to whether the assessee was guilty of concealment of income in respect of particular amount or the assessee was guilty of furnishing of inaccurate particulars of income in respect of an amount. In the instant case, it is observed from the order of the AO that he has not arrived at a final conclusion as to whether the assessee was guilty of concealment of income, or the assessee was guilty of furnishing inaccurate particulars of income. The word and used in the order levying penalty clearly indicates that the AO could not clearly specify that assessee was guilty of either concealment of income or of furnishing of inaccurate particulars of income. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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