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2014 (12) TMI 571 - HC - Income TaxImposition of penalty u/s 271(1)(c) Inaccurate particulars furnished or not Held that:- The penalty has been imposed on account of disallowance of royalty payment - The Tribunal, relied upon MAK Data P. Ltd. Versus Commissioner of Income Tax-II [2013 (11) TMI 14 - SUPREME COURT] - where the assessee offered to surrender certain amount received as share application money as its income from undisclosed source in the assessment proceedings pursuant to survey operations and when penalty was sought to be imposed under Section 271(1)(c) of the Act - assessee had claimed the deduction for the royalty payment for the second time, when it was in fact claimed in the preceding AY and allowed - when the TDS certificates in respect of the royalty paid to M/s Bayer AG Germany was asked to be furnished, after verifying the details, it was noticed that some of the TDS certificates pertained to the earlier year and part of the royalty payment attributed to these certificates had already been claimed and allowed as deduction to the assessee in the earlier years - the plea taken by the assessee is only cursory and does not give any acceptable explanation for the wrong computation, as the error was detected by the original authority only during the proceedings u/s 143(3) and she has also recorded a categorical finding that the assessee suppressed the income by making a wrong claim of royalty payment, which actually pertained to earlier assessment years, which was claimed and allowed and therefore thought it fit to levy penalty u/s 271(1)(c) of the Act the decisions relied upon by assessee cannot be followed as they are distinguishable and the department was justified in imposing the penalty u/s 271(1)(c) of the Act, as the explanation offered by the assessee is no explanation at all in the eye of law thus, as such no substantial question of law arises for consideration Decided against assessee
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