2019 (7) TMI 18

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....concluding that the assessee concealed the income, disregarding the fact that the assessee had offered the Income sue motto. 3. The appellant craves its right to add to or alter the Grounds of Appeal at any time before or during the course of hearing of the case." 3. Briefly stated the relevant facts include that the assessee has multiple units i.e. both (i) eligible and (ii) non-eligible undertakings for claiming of deduction under Chapter VI of the I.T. Act. The assessee filed the return of income on 30.10.2009 declaring the total income of Rs. 2,49,93,790/- after claiming deduction under the said Chapter VI of the Act. Assessee claimed general expenses in the books. However, the assessee, while filing the return of income cla....

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....m of excess expenditure to the non-eligible undertaking was never an issue before the Assessing Officer. The offer of financial statements with the corrected claim was done voluntarily by the assessee. Therefore, the claim of the assessee does not amount to furnish inaccurate particulars of income. For this proposition, ld. Counsel relied on the series of decisions, which are cited in the written submissions dated 14.12.2016 filed before the CIT(A). Penalties are not exigible when the omission is not intention. The assessee relied on the Jurisdictional High Court's judgement in the case of CIT vs. Umashankar Saraf, 139 ITR 842 (Bom.) for the proposition and submitted that failure to include such income when deliberate does not attract th....