TMI Blog2003 (1) TMI 42X X X X Extracts X X X X X X X X Extracts X X X X ..... lars of its income and furnished inaccurate particulars?" - we answer the above question in the negative, i.e., in favour of the Department and against the assessee. - Income-tax Appeal No. 94 of 2001 - - - Dated:- 15-1-2003 - Judge(s) : S. H. KAPADIA., J. P. DEVADHAR. JUDGMENT The judgment of the court was delivered by S.H. KAPADIA J.-Being aggrieved by the order passed by the Tribunal dated September 11, 2000, the Department has come in appeal under section 260A of the Income-tax Act, 1961. By the impugned order, the Tribunal has set aside penalty of Rs. 5,69,798 under section 271(1)(c) of the Income-tax Act, 1961, for the assessment year 1992-93. Facts: The assessee is a private limited company engaged in the business of man ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al under section 260A of the Income-tax Act. Arguments. Mr. R.V. Desai, learned senior counsel appearing on behalf of the Department, contended that the judgment of the Supreme Court in Allied Motors' case [1997] 224 ITR 677 had no application to the facts of this case. Secondly, he contended that in this case, section 43B of the Income-tax Act, which was the subject-matter of the judgment in Allied Motors' case [1997] 224 ITR 677 (SC), did not apply to the facts of this case as in this case, the assessee had concealed the trading receipt and it was not a case of disallowance under section 43B, but it was a case of concealment of trading receipt. As stated above, none appeared for the assessee though served. Findings. We find merit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. The Supreme Court found, on the facts, that the assessee had actually paid the tax collected before the due date for furnishing the returns under section 139(1) of the Income-tax Act. This fact is very important. In the present case, the said proviso to section 43B is not applicable as the assessee has not paid the tax before the due date. In the circumstances, the judgment of the Supreme Court in Allied Motors' case [1997] 224 ITR 677 has no application. In the present case, the assessee had concealed the trading receipt. There was no question of disallowance. There was no question of applicability of section 43B. On the facts, section 271(1)(c) was applicable. Accordingly, we answer the following question: Question: Whether, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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