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Commissioner of Income Tax II Versus M/s Euro Footwear Ltd.

2016 (1) TMI 254 - ALLAHABAD HIGH COURT

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 th .....

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ns by itself would not amount to furnishing inaccurate particulars regarding the income of the assessee. Commissioner of Income Tax Vs. Reliance Petro Products Pvt. Ltd. (2010 (3) TMI 80 - SUPREME COURT ) - Decided in favour of assessee. - Income Tax .....

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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 .....

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ther export incentives are not the income derived from an industrial undertaking. The Assessing Officer allowed the deductions under Section 80 IB after deleting duty draw back and export incentives. The Assessing Officer was also of the opinion that .....

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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 departm .....

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in deleting the penalty imposed under Section 271 (1) (c) of the Act. Having heard Sri Ashok Kumar, the learned counsel for the appellant and Sri Ashish Bansal, the learned counsel for the respondents, we find that the assessee had disclosed all the .....

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inaccurate particulars" means details supplied in the return, which was not accurate or which was not exact or correct or which was not according to the truth or which was erroneous. In the instant case, there is no finding of the Assessing Offi .....

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t arise nor such imposition of penalty would be sustainable in law. In our opinion, a mere making of the claim for certain deductions by itself would not amount to furnishing inaccurate particulars regarding the income of the assessee. In Commissione .....

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