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2018 (11) TMI 1488 - ITAT RAJKOTPenalty levied u/s.271(1)(c) - excess expenses disallowed and suppression of receipts - bonafide mistake in accounting the total contract receipts - Held that:- There is only meager amount of ₹ 5,74,774/- due to non reconciliation of TDS certificate with the PLA. This shows that the intention of the assessee was not to conceal anything but the mistake crept due to unintentional and erroneous consideration of contract receipts. In the written submissions the assessee has placed reliance on the decision of ITAT Rajkot in the case of Ravjibhai Premjibhai Motisariya[2014 (3) TMI 1136 - ITAT RAJKOT] wherein such clerical mistake in the accounting has been held to be bonafide for which penalty u/s.271(1)(c) is not leviable. In the case in hand, we find that there appeared to be bonafide mistake in accounting the total contract receipts, therefore, this appears to be a bonafide mistake - Decided in favour of assessee.
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