9911796707
TMI Blog2016 (9) TMI 1446X X X X Extracts X X X X X X X X Extracts X X X X ..... the discovery of the concealment by the AO - thus we are of the view that the decision of the CIT(A) is in accordance with law & merit when such advances was treated as the income for the same year during the earlier assessment proceedings, the assessee had accepted the same to avoid confrontation with the Revenue and further revised her return for the subsequent AY being the relevant AY - Decide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome Tax (Appeals)- I, Madurai dated 20.01.2016 in ITA No.775/15-16 passed under section 271(1)(c) r.w.s 250(6) of the Act. 2. The Revenue has raised several grounds in its appeal, however, the crux of the issue is that the learned Commissioner of Income Tax (Appeals) has erred in deleting the penalty of ₹ 1,1611,202/- levied under section 271(1)(c) of the Act. 3. Brief facts of the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dit fees : 1,00,000 2. Commission Brokerage 10,84,110 3. Professional charges 10,48,912 4. Security charges 1,72,040 Total ₹ 24,05,062 4. In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssment year, thereby the assessee had concealed her income attracting the provisions of section 271(1)(c) of the Act. 5. On appeal, the learned Commissioner of Income Tax (Appeals) deleted the penalty levied by the learned Assessing Officer in regard to the advance received for ₹ 3,51,71,053/- being treated as income for the relevant assessment year because the assessee had filed revised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issue of penalty levied on account of addition made for non-deduction of tax, we find that it is only an inadvertent mistake committed by the Accountant of the assessee. Therefore we are of the view that penal provisions of section 271(1)(c) cannot be invoked in the case of the assessee. Hence, we hereby uphold the decision of the learned Commissioner of Income Tax (Appeals) for deleting the entir ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
