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TMI Blog2024 (10) TMI 925X X X X Extracts X X X X X X X X Extracts X X X X ..... enalty u/s 271(1)(c) is leviable if the AO is satisfied in the course of any proceedings under this Act that any person has concealed the particulars of his income or furnished inaccurate particulars of such income. As noted that the Ld.AO placed reliance on the decision of Dharmendra Textile Processors [ 2008 (9) TMI 52 - SUPREME COURT] that dealt with the concept of mens rea in order to impose penalty for a breach of civil obligation and is not applicable to the present facts of the case. There is no case of concealment made out by the revenue, as all the necessary facts were available on record and the disallowance of the claim admitted to be withdrawn by the assessee in the quantum proceedings is due to a wrong claim made. Decided again ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal accounts of the assessee were subject Tax Audit u/s. 44AB.? 4. Whether on the facts and circumstances and in law the Ld.CIT(A) was right in deleting penalty levied u/s. 271(1)(c) of Rs. 2,22,24891/- without following the decision of the Hon'ble Delhi High Court, passed after considering the decision of Hon'ble Supreme Court in M/s. Reliance Petroproducts Ltd., in the case of M/s. Zoom Communications Itd. wherein the Hon'ble Court held that penalty u/s. 271(1)(c) is leviable when the explanation filed by assessee is not correct and/or not bonafide.? 5. The appellant prays that the order of CIT(A) on the above ground be set aside and that of the Assessing Officer be restored. 6. The Appellant craves leave to amend or alter any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t penalty being a civil offence is the consequential liability. In support he relied on the decision of Hon ble Supreme Court in case of UOI vs Dharmendra Textiles Processors reported in (2008) 306 ITR 277. Aggrieved by the order of the Ld.AO, the assessee preferred appeal before the Ld.CIT(A). 2.4. The Ld.CIT(A) noted that the assessee made a claim which was not sustainable in the eye of law and accordingly, withdrew the claim in the quantum proceedings. The Ld.CIT(A) further noted that all the relevant details required to verify the claim of the assessee were available on record and, therefore, it was not a case for concealment. He placed reliance on the decision of the Hon ble Bombay High Court in the case of DIT vs Administrator of Esta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f income in accordance with the provisions of the Act. So when any fact material to the determination of an item as income or material to the correct computation is not filed or that which is filed is not accurate, then the assessee would be liable to penalty under s. 271(1)(c) of the Act. The expression, has concealed the particulars of income and has furnished inaccurate particulars of income have not been defined either in section 271 or elsewhere in the Act. 2.6. However, notwithstanding the difference in the two circumstances, it is now well established that they lead to the same effect namely, keeping off a certain portion of the income from the return. According to Law Lexicon, the word conceal means: to hide or keep secret. The word ..... X X X X Extracts X X X X X X X X Extracts X X X X
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