TMI Blog2018 (1) TMI 1328X X X X Extracts X X X X X X X X Extracts X X X X ..... (Addl.CIT) ORDER PER: BHAGCHAND, A.M. This is an appeal filed by the assessee emanates from the order of the ld. CIT(A)-I, Jaipur dated 31/07/2017 for the A.Y. 2009- 10, wherein the assessee has raised only one ground of appeal, which is as under:- 1. That on the facts and in the circumstances of the case, the ld. CIT(A) grossly erred in confirming penalty U/s 271(1)(c) of the IT Act to the extent of ₹ 15,450/- as against the amount of ₹ 46,350/- imposed by the ld. Assessing Officer. 2. The only issue involved in the appeal, is against sustaining the penalty U/s 271(1)(c) of the Income Tax Act, 1961 (in short the Act) of ₹ 15,450/- being 100% of the tax sought to be evaded. 3. While pleading on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re Retreading Rubber Industries in DBITA 542/2008 vide order dated 19.09.2013 has held: Merely because books of accounts of the assessee were rejected or estimated addition was made, in our view, no penalty is leviable. b. CIT vs. Kailash Crockery House (1999) 235 ITR 544 (Pat) c. CIT v. Metal Products of India [1984] 150 ITR 714 (P H) d. CIT v. Whiteline Chemicals (Guj) (Tax Appeal No. 496/2102) dated 15.01.2013 e. CIT vs. Subhash Trading Company (1996) 221 ITR 110 (Guj) f. CIT vs. Raj Bans Singh (2005) 276 ITR 351 (All) g. CIT v. Aero Traders (2010) 231 CTR 524 (Delhi) h. CIT v. Modi Industrial Corporation (2010) 195 Taxman 68 (P H) i. CIT v. Vijay Kumar Jain (2010) 325 ITR 378 (Chattisgarh) j. Shiv Narain Jam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m made. Where no information given in the return is found to be incorrect or inaccurate, the assessee cannot be held guilty of furnishing inaccurate particulars. In order to expose the assessee to penalty, unless the case is strictly covered by the provisions, the penalty provision cannot be invoked. By no stretch of imagination can making an incorrect claim tantamount to furnishing inaccurate particulars. There can be no dispute that everything would depend upon the return filed by the assessee, because that is the only document where the assessee can furnish the particulars of his income. When such particulars are found to be inaccurate, the liability would arise. To attract penalty, the details supplied in the return must not be accurate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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