2022 (10) TMI 987

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..... 274 - HELD THAT:- On facts it is found that the assessee s aim to offer interest income on income tax refund was an inadvertent and bona fide error and no contumacious conduct has been established by the assessing officer. The revenue filed appeal before the Tribunal. The Tribunal after considering the correctness of the order passed by the CIT also found that notice issued by the assessing office .....

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..... in this appeal.
The Hon'ble Justice T.S. Sivagnanam And The Hon'ble Justice Supratim Bhattacharya For the Appellant : Mr. Soumen Bhattacharjee, Adv. For the Respondent : Mr. J.P. Khaitan, Sr. Adv., Mr. Pranit Kr. Bag, Adv., Mr. Snehashis Sen, Adv., Mr. Abhishek Banerjee, Adv. And Mr. Aditya Sarkar, Adv. ORDER The Court : We have heard Mr. Soumen Bhattacharjee, learned standing Counsel for .....

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..... evenue has raised the following substantial questions of law for consideration :- a) Whether on the facts and in the circumstances of the case and in law, the Learned Income Tax Appellate Tribunal erred in mechanically holding the notice for imposition of penalty as invalid, because of not striking off the "inaccurate particular of income" portion in the notice under section 274 of the Income Ta .....

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..... sition that merely because of an addition stands confirmed penalty under Section 271(1)(c) is not automatic. The CIT(A) examined the fact of the case and after taking note of the decision of the Supreme Court in Pricewaterhousecoopers Pvt. Ltd. Vs. CIT, (2012) 348 ITR 306 (SC). On facts it is found that the assessee's aim to offer interest income on income tax refund was an inadvertent and bona fi .....

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..... ] 359 ITR 565 and dismissed the appeal filed by the revenue. Thus we find that the correct legal position has not been noted by the CIT but the learned Tribunal as well. Thus we find there is no substantial question arising for consideration in this appeal. For such reason, the appeal fails and dismissed. Consequently, the stay application also stands closed.
Case laws, Decisions, Judgement .....

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