2015 (10) TMI 1393

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.... by the assessee against the o rder of the  Commissioner of Income Tax (Appeals)-XXI dated 24.09.2012 2. The sole ground of appeal of the assessee relates to the order of the Commissioner of Income Tax (Appeals) confirming penalty of Rs. 3,91,041/- levied u/s. 271(1)(c) of the Act. 3. We have heard the rival submissions and perused the orders of lower authorities and material available ....

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....ome. 4. Before the Hon'ble Gujarat High Court, the assessee filed an affidavit of Shri Vinod H. Desai, Chartered Accountant and the matter was remanded back to the Tribunal for deciding the issue of penalty afresh after taking into consideration the said affidavit. 5. Before us, the Authorized Representative of the assessee pointed out on the basis of the affidavit that the assessee relied u....

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.... that the genuineness of the affidavit is not in dispute. In the affidavit, the deponent has clearly stated in a solemnly affirmed statement that the assessee was his client since about 15 years and his entire audit and taxation work was handled by him. Accordingly, his return of income for Assessment Year 2008-09 was prepared by him and filed with the Income Tax Department on 18.09.2008 declaring....

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....Desai, Chartered Accountant 10. Further, it is also not in dispute that Shri Vinod H. Desai is a qualified professional and actively engaged in the profession of tax consultancy. In the above circumstances, the reliance placed by the assessee on the advice of such a professional, the assessee cannot be held guilty of gross negligence. 11. Further, in the circumstances, it can be held that th....