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2016 (1) TMI 254 - ALLAHABAD HIGH COURT

2016 (1) TMI 254 - ALLAHABAD HIGH COURT - TMI - Penalty under Section 271(1)(c) - Held that:- In the instant case, there is no finding of the Assessing Officer that the details supplied by the assessee in its return was inaccurate, incorrect, erroneous or false. In the absence of any finding of this nature, the question of imposing penalty under Section 271(1)(c) on the mere making of the claim could not arise nor such imposition of penalty would be sustainable in law.

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K. Garg ORDER Both the appeals involve the same question of law and are being decided together. For facility, the facts in the appeal of the assessment year 2003-04 is being taken into consideration. For the assessment year 2003-04, the assessee claimed deduction under Section 80 HHC and 80IB. The assessee claimed 30 percent of the gross total income under Section 80 IB on the income derived from Duty Entitlement Pass Book Scheme (DEPB) as well as on Duty Draw Back Scheme etc. The Assessing Offi .....

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cision of the Supreme Court rendered in Liberty India Vs. CIT (2009) 317 ITR 218 and levied penalty under Section 271(1)(c) amounting to ₹ 20,20,000/-. The assessee, being aggrieved, filed an appeal before the CIT Appeals, which was allowed and the order of penalty was set aside. The department, being aggrieved, filed a second appeal, which was rejected. The department has now filed the present appeal under Section 260 A of the Tax Act contending that a substantial question of law arises a .....

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