2018 (11) TMI 1851

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....artment : Shri Anoop Hiwase. ORDER Per C.N. Prasad (JM) 1. This appeal is filed by the assessee against the order of the Learned Commissioner of Income-tax (Appeals)-42, Mumbai [hereinafter in short "Ld. CIT(A)] in sustaining the penalty of Rs..62,042/- levied U/s. 271(1)(c) of the Act. 2. Briefly stated the facts are that, the Assessing Officer while completing the assessment noticed ....

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....the assessee did not disallow the said expenses u/s.43B of the Act, when it realized in the course of assessment proceedings the same were surrendered and accepted for disallowance. Ld. Counsel for the assessee submitted that the said expenses were allowed as deduction in the assessment year 2012-13 when the payment was made. It was submitted that there is no willful concealment or furnishing of i....

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....erty tax. As it was not paid before the due date for filing of return, therefore, assessee requested to disallow the property tax while computing the income. In the penalty proceedings it was contended that unpaid property tax is inadvertently remained to be disallowed while preparing the income tax return and there is neither concealment of income nor furnishing of inaccurate particulars. The sai....

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....ses are not in doubt but only the allowability of the year. It is not known as to what details the Assessing Officer has called for, however, the assessee by letter dated 15.03.2013 surrendered same and it was submitted that it is a bonafide mistake. In the circumstances, we do not see any concealment of income or furnishing of inaccurate particulars but it is only due to oversight assessee did no....