9911796707
TMI Blog2017 (1) TMI 1855X X X X Extracts X X X X X X X X Extracts X X X X ..... hed any inaccurate particulars - HELD THAT:- The assessee has raised the false claim by furnishing the inaccurate particulars by claiming taxable income as Nil whereas the assessee was not entitled to claim the exemption because he was not having the registration u/s.12AA of the Act for the relevant assessment year. In brief he was not having the exemption u/s.12AA of the Act for the relevant ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income Tax (Appeals) 1, Mumbai [hereinafter referred to as the "CIT(A)"] relevant to the A.Y.2008-09 2. The revenue has raised the following grounds:- "1. That on the facts and circumstances of the case and in law, the Ld. CIT(A), erred in cancelling the penalty levied u/s.271(1)(c), by concluding that assessee has not furnished any inaccurate particulars. 2. That on the fac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act, because the assessee was not having registration certificate u/s.12AA of the Act for A.Y.2008- 09. Thereafter, the Assessing Officer initiated the penalty in view of section 271(1)(c) of the Act and levied the penalty to the tune of Rs.13,07,173/-. The assessee filed an appeal before the CIT(A) who allowed the appeal of the assessee and deleted the penalty. Feeling aggrieved, the revenue ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Nil whereas the assessee was not entitled to claim the exemption because he was not having the registration u/s.12AAof the Act for the relevant assessment year. In brief he was not having the exemption u/s.12AA of the Act for the relevant assessment year but sought the exemption u/s.12AAof the Act for the assessment year 2008-2009 wrongly and illegally. No doubt in the said circumstances the provi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
