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TMI Blog2025 (2) TMI 914X X X X Extracts X X X X X X X X Extracts X X X X ..... on of the penalty levied u/s. 270A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') to the tune of Rs. 2,72,549/- for under reporting of income to the tune of Rs. 48,94,072/- 3. The brief facts are that the assessee firm is engaged in the business of wholesale rice trade in the name and style of M/s. Dawath Traders and filed its return of income (RoI) on 30.10.2017 for AY 2017-18 disclosing total income at Rs. 6,52,740/-. Later, the premises of the assessee was surveyed u/s. 133A of the Act on 17.03.2017 and based on the survey findings, the return was selected for scrutiny and the AO assessed total income at Rs. 55,46,812/- and since, the assessee has offered Rs. 30 lakhs under PMGKY Scheme, net-assessed income came down ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the claim of immunity and also observed that the assessee didn't bring any evidence to show that the assessee's case would fall under the ken of Rule 6DD of the Income Tax Rules, 1962 to exclude the transaction from violation of sec.40A(3) of the Act which led to the disallowance of Rs. 47,64,072/-. 4. Aggrieved by the aforesaid action of the Ld.CIT(A), the assessee is in appeal before this Tribunal. 5. We have heard both the parties and perused the material available on record. We note that the assessee-firm filed its RoI admitting total income at Rs. 6,52,740/- on 30.10.2017. Pursuant to survey on 17.03.2017, u/s. 133A of the Act, the return was selected for scrutiny and the AO made an addition of Rs. 55,46,812/- and since, the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 270A of the Act. In this context, it has to be kept in mind that courts are meant to do substantial justice between the parties, and that technical rules or procedure should not be given precedence over doing substantial justice. Undoubtedly, justice according to the law, doesn't merely mean technical justice, but means that law is to be administered to advance justice [refer the decision dated 30.10.2017 of the Hon'ble Supreme Court in the case of Pankaj Bhai Rameshbhai Zalavadiya v. Jethabhai Kalabhai Zalavadiya in Civil Appeal No.155549 of 2017]. In the given factual background, according to us, non-filing of Form 68 is only a technical or venial breach which should not snatch away the substantive right to claim immunity from levy of p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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