TaxTMI 
TaxTMI 
2023 (10) TMI 1424
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....the penalty of Rs. 89,003/- levied under Section 271(1)(c) of the Income Tax Act, 1961 (in short, the Act) for the Assessment Year (AY) 2012-13. 2. At the outset of hearing, the ld. AR of the assessee submits that there is a delay of 155 days in filing appeal before the Tribunal. The learned Authorised Representative (ld. AR) of the assessee submits that he has already filed application for condonation of delay. The ld. AR of the assessee submits that the impugned order was passed by the ld. CIT(A) on 18/12/2022 and the present appeal is filed on 21/07/2023. The ld. AR of the assessee further submits that the order was served on the Chartered Accountant of the assessee society on 18/12/2022 and appeal should have been filed on or before ....
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....focom (P) Ltd. Vs Pr.CIT (2023) 150 taxmann.com 529 (Bom) and Collector, Land Acquisition Vs Mst. Katiji & ors. (1987) 167 ITR 471 (SC). 3. On merit, the ld. AR of the assessee submits that the Assessing Officer made disallowance under Section 80P(2)(d) of the Act of Rs. 2,98,035/- by taking a view that the assessee is not eligible for such deduction. The assessee has neither concealed any income nor furnished inaccurate particulars of income rather the disallowance was made on the basis of change of opinion. Mere disallowance in every case would not ipso facto lead to levy of penalty. The Assessing officer levied penalty @ 100% of tax sought to be evaded on such disallowance. The ld AR for the assessee submits that in fact the assessee ....
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....the rival submissions of both the parties. First we are considering the plea of condonation of delay of assessee. We find that the main contention of ld. AR of the assessee is that there was no intentional or deliberate delay in filing appeal before the Tribunal. The delay is only for the reasons that the tax consultant Shri Prashant N. Kabrawala gave his telephone number & email on the portal of Income Tax Department, so the assessee society could not become aware whether any order has been passed or not when the recovery proceeding was initiated by the Assessing Officer, the assessee society came to know and approached the present authorised representative to pursue the matter in further appeal. The Manager of assessee has filed an affida....
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.... reply, the assessee submitted that the penalty cannot be imposed just for making incorrect claim and relied upon the decision of Hon'ble Apex Court in the case of CIT Vs. Reliance Petroproducts (P) Ltd. (supra). The assessee also explained that they have furnished all the details of its expenditure as well as income in its return which was not found to be inaccurate nor could be viewed as concealment of income on their part, it was on the authorities who accepted or not. Merely the assessee claimed expenditure which was not accepted to the revenue that itself would not attract penalty. The assessee requested to drop the penalty. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer held that the assessee wi....