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2016 (10) TMI 405 - HC - Income TaxPenalty u/s 271 (1)(c) - appellant/assessee being the sales tax practitioner - non disclosure of income - Held that:- As from the material on record that the appellant/ assessee failed to disclose the income or concealed the income from different sources, filed the return and the same was accepted. However, during search and seizure operation under Section 132 of the Act conducted at Rajiv Gandhi International Airport, Hyderabad, the appellant/assessee was found in possession of ₹ 12,65,900/- and the authorities seized ₹ 12,00,000/-. The authorities also collected the accounts statements from the banks pertaining to the appellant/assessee and found that there are deposits and withdrawals at regular intervals, but those amounts are not reflected in the returns filed by the appellant/assessee for the reasons best known to him. Such nondisclosure would directly attract the provisions of Section 271 (1) (c) of the Act as it deals with concealment of income from different sources by the assessee. The Assessing Officer imposed penalty by exercising power under Section 271 (1) (c) of the Act, which was confirmed by the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal. Even otherwise, bonafides pleaded by assessee is a question of fact and that would not give raise to substantial question of law before this Court as the appeal under Section 260-A of the Act can be admitted only if substantial question of law is made out by the appellant. The ground urged before this Court that the appellant/assessee bonafidely did not disclose the income is a question of fact, which cannot be enquired into by this Court in view of our aforesaid discussions. The facts on record did not give rise to any substantial question of law, which is essential to admit the appeal. Hence, we find no ground to interfere with the impugned order passed by the Income Tax Appellate Tribunal. Therefore, the appeal fails. Accordingly, the point is answered in favour of the respondents and against the appellant/assessee.
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