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TMI Blog2013 (10) TMI 881X X X X Extracts X X X X X X X X Extracts X X X X ..... v Khanna, J. (Oral): This appeal by the assessee under Section 260A of the Income Tax Act, 1961 (Act, for short), relates to Assessment Year 2005-06 and arises out of order of the tribunal dated 23rd March, 2012. 2. By order dated 10th July, 2013, the following substantial question of law was framed:- "Whether the order of the Income Tax Appellate Tribunal confirming penalty under Section 271(1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessing Officer computed the income on book profits under Section 115JB after noticing that the assessee had earned profit of Rs.14,47,91,067/- in the said assessment year. No adjustment towards book profits was made, except on account of provision for wealth tax and excess depreciation charged on electrical fittings. Accordingly, minimum alternative tax was computed. 4. The Assessing Officer the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion under Section 80G of the Act was assessable. This amount was shown as an expense under the head "administrative expenses" in the profit and loss account and the relevant schedule of the balance sheet. It was stated that by mistake, the appeallant-assessee inadvertently had failed to add back or disallow Rs.50,98,500/- while computing the taxable income in the statement of accounts. This was an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and not under the normal provisions, Explanation (4) has to be accordingly applied. In view of the said Explanation, the additions made by the Assessing Officer under the normal provisions are totally irrelevant. Thus, there cannot be imposition of penalty under Section 271(1)(c) of the Act for addition made under the normal provisions. 8. Question of law is accordingly answered in favour of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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