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2011 (4) TMI 939 - AT - Income TaxPenalty under Section 271(1)(c) - disallowance of the assessee's claim of interest payable - Held that:- Where assessee has furnished necessary details as to the claim made and has not suppressed material facts relating to the claim. It's merely a case where the assessee's claim has been disallowed, without there being any evidence or material on record to show that the assessee had any mala fide intention to evade payment of taxes, penalty under section 271(1)(c) can't be levied. True that the Department is not supposed to prove mens rea on the part of the assessee but it is equally true that if the assessee can establish that he made the claim in bona fide manner and all particulars relating thereto have been disclosed, the penalty under section 271(1)(c) shall not be leviable. In favour of assessee.
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