TMI Blog2018 (11) TMI 1488X X X X Extracts X X X X X X X X Extracts X X X X ..... ] wherein such clerical mistake in the accounting has been held to be bonafide for which penalty u/s.271(1)(c) is not leviable. In the case in hand, we find that there appeared to be bonafide mistake in accounting the total contract receipts, therefore, this appears to be a bonafide mistake - Decided in favour of assessee. - I.T.A. No.723/RJT/2014 - - - Dated:- 26-11-2018 - Shri C.M. Garg, Judicial Member And Shri O.P. Meena, Accountant Member For the Assessee : Written Submission For the Revenue : Shri Praveen Verma Sr.D.R. ORDER PER O. P. MEENA, ACCOUTANT MEMBER: 1. This appeal filed by the Assessee is directed against the order of learned Commissioner of Income Tax (Appeals)-II, Rajkot(in short the CIT ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spect of repairs and maintenance expenses is only 6% of the expenses and same has been made purely on estimated basis. When the claim is found to be in order to the extent of 95% there is no reason for the appellant to hide only 5% of the claim. Similarly, the addition of ₹ 5,74,774/- is on account of difference between TDS receipts and Profit and Loss Account (PLA) receipts out of ₹ 13,98,73,418/-. It is miniscule percentage and thus not liable for penalty. However, the CIT(A) deleted the penalty with regard to disallowance of expenses of ₹ 20,48,970/- by placing reliance on the decision of Hon ble Supreme Court in the case of Reliance Petro Products Ltd., 322 ITR 158. However, the CIT(A) sustained the penalty on account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Authorised Representative of the assessee. We find that the assessee has disclosed ₹ 13,92,98,644/- as against ₹ 13,98,73,418/- receipts as per TDS certificate. Thus, there is only meager amount of ₹ 5,74,774/- due to non reconciliation of TDS certificate with the PLA. This shows that the intention of the assessee was not to conceal anything but the mistake crept due to unintentional and erroneous consideration of contract receipts. In the written submissions the assessee has placed reliance on the decision of ITAT Rajkot in the case of Ravjibhai Premjibhai Motisariya in ITA No.515/Rjt/2013 for A.Y. 2009-10 dated 07.03.2014 wherein such clerical mistake in the accounting has been held to be bonafide for which penalty u/ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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