TaxTMI 
TaxTMI 
2022 (12) TMI 394
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....271(1)(c) is a civil liability is not applicable to your appellant case as there was no concealment of fact and figures come out during the assessment proceeding and as such the order passed by the ld. CIT(A), NFAC, Delhi need to be cancelled. ii. That the penalty u/s 271(1)(c) the particulars filed by the assessee in it statement of accounts, income tax return which amount to concealment of income/inaccurate supply of particulars of facts/income does not stand and as such the penalty order need to be cancelled. iii. That your appellant craves leave to add other grounds/further grounds at the time of hearing of the appeal." 2. Though the Registry has pointed out that the appeal is time barred, however, in view of the de....
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....tems on the profit & loss account. Further, it is seen from the penalty order passed by the AO that reason of addition is respect to the capital nature expenses claimed. Wherein the appellant has failed to prove the same before the AO. 4.4.In view of the above, it is clear that the appellant argued for wrongly disallowance of claim of capital expenses. Accordingly, the penalty has been correctly levied on the disallowance of capital expenses amount as the appellant has furnished inaccurate particulars of income through which reduced the income for tax. As far as deliberate intent and/or attempt on the part of appellant is concerned, it is now well settled proposition that the penalty u/s 271(1)(c) is leviable if appellant fails to ....
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....he appellant case clearly falls within the ambit of the explanation 1 to the section 271(1)(c) of the Act which raises a rebuttable presumption and shifts the onus on the appellant to establish bonafide of its claim. 4.6 Though the Hon'ble courts have held time and again penalty u/s 271(1)(c) is a civil liability and, therefore, mensrea is not an essential element for imposition of penalty for breach of civil obligations; the facts of the case clearly reveal that there was willful attempt of concealment on part of appellant. 4.7 In view of above facts and that no further cogent evidences or arguments have been put forth by the appellant during the course of appellate penalty proceedings, it is quite clear that the appe....
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.... the facts on record. We observe from the fact before us that levied penalty u/s 271(1)(c) of the Act has been levied in respect of expenditure amounting to Rs. 17,73,675/- which was claimed by the assessee as exceptional item in the profit & loss a/c and were fully disclosed in the profit & loss a/c and also by way of Note no. 20 of final account. We observe that the AO has levied penalty for the reason that the assessee has filed inaccurate particulars in respect of the aforesaid expenses and thereby levied a penalty of Rs. 5,48,066/- being hundred percent of the tax sought to be evaded. The ld. CIT(A) confirmed the order on the ground that the assessee has wrongly claimed a capital nature expenditure by way of exceptional item in the pro....