TaxTMI 
TaxTMI 
2016 (7) TMI 1348
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....s JUDGMENT K. S. Jhaveri, J. 1. By way of these appeals, the appellant-Department has challenged the judgment and order dated March 23, 2007 of the Income-tax Appellate Tribunal, Ahmedabad Bench "D" in I. T. A. No. 2467/Ahd./2004 and I. T. A. No. 117/Ahd./2006. 2. While admitting the matters on December 14, 2007, the following substantial questions of law were framed by the court for considera....
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..... It was further held that in the facts of the case that after original assessments of assessee for relevant assessment years had been completed, a survey was conducted upon it and on verification certain purchases made by it did not appear to be genuine. Before the proceedings could be finally concluded, the assessee filed revised return for all three assessment years disclosing additional income....
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....tails of its expenditure as well as income in its return, which details, in themselves, were not found to be inaccurate nor could be viewed as the concealment of income on its part. It was up to the authorities to accept its claim in the return or not. Merely because the assessee had claimed the expenditure, which claim was not accepted or was not acceptable to the Revenue, that by itself would no....
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....Tribunal upholding the levy of penalty on the ground of suppression of particulars, deserves to be set aside." 5. We have heard learned counsel for the respective parties and perused the records of the case. In the facts of the case, it emerges that the declaration was made by the assessee under the advice of the chartered accountant and subsequently, the same was rectified. Therefore, there was ....