TaxTMI 
TaxTMI 
2026 (7) TMI 1312
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.... supporting the order of Ld. AO is bad in law and facts, void ab initio and with jurisdiction. 2. That the ld. CIT(A) erred in law and facts of the case by imposing penalty u/s 270A of an amount of Rs. 21,53,258/- 3. The appellant reserves the right to add or amend any ground of appeal." 2. The present appeal is delayed by 437 days. The assessee has filed an application seeking condonation of delay, duly supported by an affidavit explaining the reasons for the delay. The Ld. Counsel for the assessee reiterated the submissions as made in the condonation application and relied upon the facts stated in the accompanying affidavit. He submitted that the delay was neither intentional nor deliberate and prayed that the same be....
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.... a litigant does not stand to benefit by lodging an appeal belatedly and that matters should, as far as possible, be decided on merits rather than being dismissed on technical grounds. Though the Ld. DR has contended that the delay occurred due to negligence on the part of the assessee and that there was no formal instruction issued by the Police Headquarters, I find that the explanation furnished by the assessee, due to bureaucratic delay in taking a decision would, constitutes a reasonable and bona fide cause for the delay. In my considered view, the assessee has satisfactorily explained the delay and the same deserves to be condoned in the interest of substantial justice. Accordingly, the delay of 437 days in filing the present appeal is....
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....e assessment proceedings. It was contended that there was neither concealment of income nor furnishing of inaccurate particulars of income. The Ld. Counsel further submitted that the assessee is a charitable institution duly registered under Section 12A and approved under Section 80G of the Act. The claim of exemption was made under a bona fide belief based on the objects of the society and the manner in which the activities were carried on. He further submitted there is no provision u/s 270A of the Act for levy of penalty of 200% on under reported income. Sub-section (7) to section 270A of the Act empowers the AO to levy penalty in respect of under reporting of the income to the extent of sum equal to 50% of the amount of tax payable on un....
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....it is not the case of AO that the assessee society is not entitled for deduction u/s 80G of the Act. In the present case, the assessee instead of claiming 50% exemption of donation received it claimed 100% of donation. The mistake appears to be bona fide. Further, the Hon'ble Supreme Court in the case of CIT v. Reliance Petroproducts (P.) Ltd., held that merely because a claim made by the assessee is not accepted or is found to be unsustainable in law, the same would not ipso facto amount to furnishing inaccurate particulars of income so as to attract penalty proceedings. The Hon'ble Apex Court categorically observed that making an incorrect claim in law is distinct from furnishing inaccurate particulars of income. Further, in the c....