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<h1>Denial of relief against penalty under s.221(1) for filing wrong return upheld; s.154 rectification allowed</h1> SC upheld the impugned order refusing relief against a penalty notice under s.221(1) for filing a wrong return, noting the HC found the taxpayer had ... Rectification of mistake - penalty notice passed u/s 221(1) imposing penalty on account of filing wrong return - As decided by HC [2024 (9) TMI 28 - PUNJAB AND HARYANA HIGH COURT] petitioner was having full knowledge of having filed return in the wrong format. More so, as he had also filed return for the AY 2014-15 in the ITR Form 7, which was later on revised by him and ITR was filed under Form No.5 subsequently. Once he has himself corrected his ITR for the subsequent AY 2014-15, there was no occasion for the petitioner not to correct his ITR for AY 2013-14. Be that as it may, the petitioner has remedy in terms of Section 154 of the Act as above for seeking necessary rectifications HELD THAT:- Having heard parties and having gone through the materials on record and more particularly the High Court having reserved the liberty for the petitioner to move an application for rectification u/s 154 of the Act, we find no good reason to interfere with the impugned order. If any application is preferred by the petitioner in terms of Section 154 of the Act, the same shall be decided at the earliest in accordance with law. The Supreme Court, through Justices J.B. Pardiwala and R. Mahadevan, dismissed the petition challenging the High Court's rejection of the writ petition. The High Court had held that the petitioner had 'full knowledge of having filed return in the wrong format,' noting the petitioner corrected the subsequent AY 2014-15 return but failed to do so for AY 2013-14. The Court emphasized the petitioner's remedy lies under 'Section 154 of the Act' for rectification. The Supreme Court found no reason to interfere, directing that any rectification application under Section 154 filed by the petitioner 'shall be decided at the earliest in accordance with law.' The petition was dismissed, and pending applications disposed of.
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