Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (12) TMI 42 - HC - Income TaxPenalty u/s 271(1)(c) - status of 'HUF' coupled with the provisions of Section 292BB - Held that:-The fact that the assessee himself had filed the return in the status of 'HUF' coupled with the provisions of Section 292BB the Tribunal was not right in declaring the assessment as invalid and annulling the same in view of judgment of this Court in CIT, Faridabad v. Shri Mangal Singh [2015 (11) TMI 646 - PUNJAB & HARYANA HIGH COURT]. The assessee did not dispute that the matter is required to be re-examined by the Tribunal. However, it was urged that the Tribunal while re-examining the issue be also directed to decide regarding assumption of jurisdiction under Section 148 of the Act by examining the records whether sufficient reasons and sanction of appropriate authority had been obtained before issuance of notice under Section 147/148 of the Act. The substantial questions of law are answered in favour of the revenue and against the assessee. Order regarding the penalty levied under Section 271(1)(c) of the Act challenged is also set aside. The matters are remanded to the Tribunal to adjudicate all the issues arising in the appeal after affording an opportunity of hearing to the parties in accordance with law.
|