2017 (8) TMI 934

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..... ion 271AAA namely that of payment of full tax. The Tribunal referred to the decision of the Supreme Court in case of Assistant Commissioner of Income–Tax vs. Gebilal Kanhaialal, HUF reported in [2012 (9) TMI 297 - SUPREME COURT] taking a view that the section did not lay down any time limit within which such tax had to be paid. As held by the Supreme Court in case of Gebilal Kanhaialal, HUF (su .....

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..... passed by the Assessing Officer levying penalty of ₹ 27,20,443/- which is confirmed by order passed by CIT(A)? 2. Issue pertains to assessment year 2010-11 and involves deletion of penalty under Section 271AAA of the Act done by the Tribunal under the impugned judgement. The Commissioner(Appeals) had held that all conditions for waiving the penalty under the said section were satisfied ex .....

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..... terest was duly paid either before the completion or assessment or before the conclusion of the impugned penalty order. As against this, in the case of the appellant, even till date i.e. After 4 years of search, the taxes have not been fully paid by the appellant. Clearly, the third condition specified in section 271AAA has not been fulfilled by the immunity u/s 271AAA of the Act. The request of t .....

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..... efore the Tribunal contended as under: 6.....The learning Counsel contended that to pay the outstanding demand the Commissioner of income tax was requested vide letter dated 11.10.2011 to appropriate the seized cash of ₹ 13,50,000/- towards outstanding tax demand. He further stated that the Commissioner of income tax was also requested vide letter dated 24.03.2011 to release the origina .....

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..... of Income Tax vs. Gebilal Kanhaialal, HUF reported in [2012] 348 ITR 561 (SC) taking a view that the section did not lay down any time limit within which such tax had to be paid. 5. As held by the Supreme Court in case of Gebilal Kanhaialal, HUF (supra), there is not time limit envisaged under section 271AAA for fulfillment of condition of payment of tax. When the Tribunal on the assertion of t .....

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