TMI Blog2010 (9) TMI 832X X X X Extracts X X X X X X X X Extracts X X X X ..... . The present appeal is directed against the order dated 11-9-2009 passed by the Income-tax Appellate Tribunal, Delhi Bench 'C' (for short 'the Tribunal') in ITA No. 1287/Del./2008 pertaining to the assessment year 1997-98 whereby the Tribunal has given the stamp of approval to the order passed by the CIT(A) whereby the first appellate authority has set aside the order passed by the Assessing Officer under section 271(1)(c) of the Act on many a ground. 2. We have heard Mrs. Prem Lata Bansal, learned counsel for the revenue on the question of admission. It is submitted by Mrs. Bansal that the first appellate authority as well as the Tribunal has gone wrong by expressing the opinion that there has been no submission of inaccurate particul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tiated proceedings under section 154 which clearly show that he had arrived at a considered conclusion that the matter lies within the ambit of rectification. The addition made by the Assessing Officer and its subsequent confirmation by the CIT(A) does not change the fact that the appellant had disclosed all the relevant facts in their notes to the balance sheet also during the course of assessment proceedings vide their letter dated 19-1-2000. On the above circumstances it cannot be said that the appellant had furnished inaccurate particulars of income, or had concealed particulars of income. Therefore, imposition of penalty under section 271(1)(c) cannot be upheld. Therefore, the Assessing Officer is directed to delete the penalty." 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment' of the value of the property may not by itself be furnishing inaccurate particulars. It was further held that the Assessing Officer must be found to have failed to prove that his explanation is not only not bona fide but all the facts relating to the same and material to the computation of his income were not disclosed by him. It was then held that the explanation must be preceded by a finding as to how and in what manner, the assessee had furnished the particulars of his income. The Court ultimately went on to hold that the element of mens rea was essential. It was only on the point of mens rea that the judgment in Dilip N. Shroff v. Joint CIT was upset. In Union of India v. Dharamendra Textile Processors, after quoting from se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10. We are not concerned in the present case with the mens rea. However, we have to only see as to whether in this case, as a matter of fact, the assessee has given inaccurate particulars. In Webster's Dictionary, the word "inaccurate" has been defined as: "Not accurate, not exact or correct; not according to, truth; erroneous; as an inaccurate statement, copy or transcript." 11. We have already seen the meaning of the word "particulars" in the earlier part of this judgment. Reading the words in conjunction, they must mean the details supplied in the return, which are not accurate, not exact or correct, not according to truth or erroneous. We must hasten to add here that in this case, there is no finding that any details supplied ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... diture as well as income in its return, which details, in themselves, were not found to be inaccurate nor could be viewed as the concealment of income on its part. It was up to the authorities to accept its claim in the return or not. Merely because the assessee had claimed the expenditure, which claim was 'not accepted or was not acceptable to the revenue, that by itself would not, in our opinion, attract the penalty under section 271(1)(c). If we accept the contention of the revenue then in case of every return where the claim made is not accepted by the Assessing Officer for any reason, the assessee will invite penalty under section 271(1)(c). That is clearly not the intendment of the Legislature." 4. In our considered opinion, if th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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