9911796707
TMI Blog2004 (8) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... tead of turnover of the export unit. The assessee was maintaining separate books of account but it could not produce the same because of fire. The Assessing Officer was not satisfied about the defence of the assessee and imposed penalty equivalent to 100 per cent. of the tax evaded. - There is nothing to show that the mistake by the CA was not bona fide and the mere fact that the certificate issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,830. Vide assessment order dated December 14, 1995, the Assessing Officer assessed the income at Rs. 18,15,080. The assessee had made a claim for deduction under section 80HHC of the Act at Rs. 38,48,376 as per certificate in Form No. 10CCAC issued by M/s. Rajpal and Co., CA. The Assessing Officer pointed out the errors in the said claim. The assessee filed a revised return by revising the comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess premises of the assessee on September 25, 1995, on account of which books of account were not produced. It was held that the mistake of the assessee was bona fide and was based on the certificate of the CA. It was further held that there was no connivance with the CA. It was further observed that since the mistake could have been easily detected, the same did not appear to be intentional. On ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 'ble Income-tax Appellate Tribunal was justified in law in deleting the penalty when admittedly the certificate issued by the CA was not in accordance with the provisions of section 80HHC(4) of the Income-tax Act, 1961, as accepted during the course of the assessment proceedings?" There is nothing to show that the mistake by the CA was not bona fide and the mere fact that the certificate issued ..... X X X X Extracts X X X X X X X X Extracts X X X X
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