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TMI Blog2018 (3) TMI 1466X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of the Apex Court in a case of Dilip N. Shroff Vs. JCIT and another (2007 (5) TMI 198 - SUPREME Court) and observed that there has to be a conscious concealment on the part of the assessee and that a mistake in not returning any income by itself would not constitute reason enough for imposition of penalty. The Tribunal has accepted the contention of the assessee on the basis of the affidavi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Dated:- 1-2-2018 - S. V. GANGAPURWALA A. M. DHAVALE, JJ. Shri Alok M. Sharma, Advocate for the Appellant. Mrs. C. S. Deshmukh, Advocate for the Respondent / Sole. PER COURT : 1. All these appeals assail the order of the Tribunal allowing the appeals of the assessee. All these matters pertains to assessment years 1999-2000, 2000-2001, 2001-2002, 2002-2003 and 2003-2004. In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pondent has deliberately claimed the loss of sale though the same was not an actual state of affairs. The reason given by the assessee that the assessee was advised by the Chartered Accountant in claiming the said relief is unacceptable. The Chartered Accountant is an expert, who is presumed to be aware of the provisions of law. In such a case, the respondent cannot take the shelter of the advi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and observed that there has to be a conscious concealment on the part of the assessee and that a mistake in not returning any income by itself would not constitute reason enough for imposition of penalty. 7. The Tribunal has accepted the contention of the assessee on the basis of the affidavit filed by the Chartered Accountant / advisor that he gave wrong advise and the situation were explai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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