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TMI Blog2018 (11) TMI 1851X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee and the Ld.CIT(A) sustained the penalty. On a totality of the facts and circumstances as narrated above, we find that the mistake of not disallowing the property tax paid appears to be a bonafide mistake and in any case the said expenses are not in doubt but only the allowability of the year. It is not known as to what details the Assessing Officer has called for, however, the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner of Income-tax (Appeals)-42, Mumbai [hereinafter in short "Ld. CIT(A)] in sustaining the penalty of ₹.62,042/- levied U/s. 271(1)(c) of the Act. 2. Briefly stated the facts are that, the Assessing Officer while completing the assessment noticed that the assessee debited property tax of ₹.2,00,778/- to the P&L account which was unpaid and outstanding. He also noticed that the expens ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rrendered and accepted for disallowance. Ld. Counsel for the assessee submitted that the said expenses were allowed as deduction in the assessment year 2012-13 when the payment was made. It was submitted that there is no willful concealment or furnishing of inaccurate particulars of income, it is only an inadvertent mistake. The genuineness of the expenses is not doubted and it is only a question ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the income. In the penalty proceedings it was contended that unpaid property tax is inadvertently remained to be disallowed while preparing the income tax return and there is neither concealment of income nor furnishing of inaccurate particulars. The said disallowance was made by oversight, however while complying the details in the course of assessment proceedings assessee noticed the inadverten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee by letter dated 15.03.2013 surrendered same and it was submitted that it is a bonafide mistake. In the circumstances, we do not see any concealment of income or furnishing of inaccurate particulars but it is only due to oversight assessee did not disallow the unpaid property tax during this assessment year which was ultimately allowed as expenses in assessment year 2012-13. Thus, we dire ..... X X X X Extracts X X X X X X X X Extracts X X X X
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