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2023 (11) TMI 791 - AT - Income TaxLoss of immunity from Penalty u/s. 271AAA - Delay in payment full tax as per the order of Settlement Commission (ITSC) - till the disposal of assessment assessee only paid 30 lacs and the balance was till outstanding - According to the ld. AO the provisions of section 245H(1A) an immunity granted to a person from penalty and prosecution shall stand withdrawn if he fails to pay any sum specified in order of Settlement within the time specified in such order - HELD THAT:- On perusal of the documents, we find that the assessee paid the tax not within the stipulated period but paid as per the list - reflection of payment was also found in Form 26AS. In any case, the assessee had not failed to comply the payment as directed by the ITSC. We fully relied on the order of the Sandeep Singh [2017 (1) TMI 1147 - SUPREME COURT] - The ITSC has power to extend the limitation period for payment of tax. For application of Section 271AAA of the Act, the statute grants immunity in Sub-Section2(i) for non-specification of undisclosed income u/s 132(4) of the Act. In the statement recorded no such undisclosed income was derived. It is duty of the Authorised Officer to ask the relevant question to ascertain the undisclosed income during the statement recorded in search proceeding, relied on Jayendra N. Shah[2018 (3) TMI 950 - ITAT AHMEDABAD] - DR in argument mentioned that the assessee had lost the immunity, so penalty is justified. But remained silent about the application of Section 271AAA(2)(i) - In our considered view, the assessee is eligible for granting immunity for application of penalty u/s 271AAA - Decided in favour of assessee.
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