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2017 (11) TMI 1492 - HC - Income TaxWilful attempt to evade tax, etc. - Punishable offence under the Income Tax Act - Excessive / false claim of depreciation on land - Held that:- only after the order sheet entry made by the Department of Income Tax, that the correction was made by the petitioner in the subsequent Assessment year - the contention of the learned counsel for the petitioner that the mistake in the balance sheet was suo moto rectified in the balance sheet of the subsequent year much before it was scrutinised by the Assessment Officers cannot be accepted. The another contention of the counsel for the petitioner that the alleged mistake was mere clerical in nature, not deliberate and no element of mens rea is present, also, does not hold any ground as it has been rightly held by the learned ACMM that no sincere efforts were put in by the petitioner after detection of the alleged mistake by filing the revised return immediately thereafter. It is a manifest procedure that before filing of the Income Tax return for the assessment year 2007-2008 by the petitioner, the same is scrutinized, firstly, by the auditors of the company. Secondly, by the directors of the company before endorsing their signatures on the final Balance Sheet. Therefore, it cannot be considered as a mere accounting mistake. Order of ACMM imposing sentence of fine confirmed.
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