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2013 (5) TMI 613 - ITAT AHMEDABADPenalty u/s 271(1)(c) - disallowance made u/s 40(a)(ia) - Held that:- Disallowance omade by the AO due to non-payment of TDS in time which is technical in nature. Hence, the same does not amount to concealment of income or furnishing of inaccurate particulars of income by the assessee. Further, the addition account of disallowance of expenses was made on estimate basis. It is also settled law that addition made on estimate basis does not attract penalty. The CIT(A) on proper appreciation of facts has rightly deleted the penalty made by the AO on both the above issues. DR also has not produced any material on record to controvert the findings of the learned CIT(A). As decided in case of M/s. Lucky Star International [2012 (5) TMI 344 - ITAT, Ahmedabad] it is a bonafide lapse at the end of the assessee. There is no deliberate attempt to conceal the particulars of income. In favour of assessee.
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