Back
INCOME TAX APPELLATE TRIBUNAL (PUNE BENCH)
MANISH BORAD, Accountant Member, VINAY BHAMORE, Judicial Member
Omshree Agrotech Private – Appellant
Versus
Assessment Unit, ITD Limited, NFAC, Delhi – Respondent
| Table of Content |
|---|
| 1. facts of search, voluntary disclosures, and penalty levy. (Para 2 , 3 , 4) |
| 2. assessee argues no penalty on 153a returns; revenue defends. (Para 5 , 6) |
| 3. 153a returns treated as 139(1); precedents support no penalty. (Para 7 , 8) |
| 4. no penalty on voluntary disclosures or minor calculation errors. (Para 9) |
| 5. assessee's appeals allowed; penalties deleted. (Para 10) |
आदेश/ORDER
PER DR. MANISH BORAD, ACCOUNTANT MEMBER :
The captioned three appeals at the instance of assessee pertaining to A.Yrs. 2009-10, 2011-12 and 2012-13 are directed against the separate orders dated 26.08.2024 framed by CIT(A), Pune-11 arising out of Penalty orders passed u/s.271(1)(c) of the Income Tax Act, 1961 (in short ‘the Act’).
2. The common issue raised in all these three appeals is against the levy of penalty u/s.271(1)(c) of the Act.
3. Facts in brief commonly applicable for all the three appeals are that the assessee is a Private Limited Company and search and seizure action u/s.132 of the Act was conducted on the Omshree Group cases of Dhule on 20.11.2013 and the assessee has been part of the said search. During the course of assessment proceedings for A.Y. 2009-10, 2011-12 and 2012-13 which
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
