TMI Blog2023 (7) TMI 606X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee are allowed. - ITA Nos. 321/Kol/2023 - - - Dated:- 11-7-2023 - Shri Sanjay Garg, Judicial Member And Shri Girish Agrawal, Accountant Member For the Appellant : Shri S. P. Datta, Advocate For the Respondent : Shri P. P. Barman, Addl. CIT, Sr. DR ORDER PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the assessee is against the order of Ld. CIT(A), National Faceless Appeal Centre (NFAC), Delhi vide Order No. ITBA/NFAC/S/250/2022-23/1049488929(1) dated 07.02.2023 passed against the penalty order by ACIT, Circle-47, Kolkata u/s. 271(1)(c) of the Income-tax Act, 1961 (hereinafter referred to as the Act ), dated 28.06.2019 for AY 2016-17. 2. Sole issue involved in this appeal is against the ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hinery is an essential incidental expense for running his petrol pump business which includes fuel dispensing machine, water pump and air compressor machines. In respect of the repairs to building, it was submitted that in case of petrol pump business, heavily loaded motor vehicles pass through the premises of the petrol pump. Further, the petrol pump is situated beside the National Highway where heavily loaded motor vehicles pass through. 4.1. It was also submitted that assessee is the owner of land where the petrol pump is set up and receives lease rent from the oil supplying company. The oil supplying company has given permission to render the trading business of motor spirit and lubricants which are the produce of the oil supplying c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase of the Assessee is strictly covered by words in this provision, no penalty can be invoked. By any stretch of imagination, making an incorrect claim in law cannot tantamount to furnishing in accurate particulars. Merely because the Assessee claimed of deduction of interest expenditure has not been accepted by the Revenue, penalty under section 271(1)(c) is not attracted. If the contention of the revenue is accepted, the Assessee would be liable to penalty under section 271(1)(c) in every case where the claim made by the Assessee is not accepted by the AO for any reason. The court held that this cannot be the intention of the legislature. (AY. 2001-02) (CA No. 2463 of 2010 dt. 17-3-2010). 5. Per contra, Ld. Sr. DR submitted that Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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