2016 (7) TMI 1348

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..... Shah and Praful J. Bhatt, Advocates 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 o....

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....eit such omission has to be inadvertent and bona fide. 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 al....

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....: "We do not agree, as the assessee had furnished all the details 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 a....

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....l and venial in nature, requires to be upheld and the impugned order passed by the 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....