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2024 (1) TMI 605 - AT - Income TaxPenalty u/s 271(1)(c) - addition for delayed payment of Employees’ contribution to PF/ESIC - HELD THAT:- Invocation of the same is either that of filing inaccurate particulars of income or concealment of income or both the limbs are present in respect of assessee’s return of income before the Assessing Officer. But, in the present case, the Hon’ble Supreme Court‘s decision in case of Checkmate came [2022 (10) TMI 617 - SUPREME COURT] after the assessment proceedings as well as after the penalty proceedings. The issue was debatable at both the stages and in fact the assessee through his details of income has shown the dates upon which the contribution to PF & ESI was made. Thus, there was no concealment or furnishing of inaccurate particulars of income as those details were very much before the AO as well as before the CIT(A). Therefore, there is no element of either furnishing inaccurate particulars or concealment of income. Since the issue was debatable, the assessee has taken the benefit of decision of other Hon’ble High Courts which were in favour of the assessee. Thus, Section 271(1)(c) of the Act does not attract in the present case. Appeal of the assessee is thus allowed.
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