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TMI Blog2019 (1) TMI 1053X X X X Extracts X X X X X X X X Extracts X X X X ..... issues are involved, we are proceeding to dispose them off through a consolidated order for the sake of convenience. There has been a delay of 46 days on the part of the assessee in filing the appeal before the Tribunal. The assessee has filed an affidavit signed by Jasbir Kaur Bakshi, Director of the assessee-company stating that her husband Mr. J.B.S. Bakshi who was the Managing Director expired and left his only 42 years son (who is mentally a disabled person). Also it is stated that the assessee-company is near to bankruptcy and bankers have lodged the matter against the company in Debt Recovery Tribunal. Considering the above facts, we condone the delay of 46 days in filing appeals before the Tribunal. 2. We begin with the assessme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contention of the AO that the assessee failed to offer any explanation or evidence to prove that such explanation was bonafide and the facts relating to the same were available on record during the assessment proceedings. The Ld. CIT(A) relied on the decision in the case of B.A. Balasubramanium & Bros. Co. v. CIT (SC) mentioning that "differences between income assessed and income returned was more than 20%, the Explanation to section 271(1)(c) became applicable and the ITO was justified in imposing penalty because the assessee had not been able to discharge the onus which was on it under the said Explanation, notwithstanding the fact that income was assessed on estimation basis." On the basis of the above reasons, the Ld. CIT(A) confirmed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by itself would not attract penalty u/s 271(1)(c) of the Act. Also it has been held in CIT v. Ajaib Singh & Co. (2002) 253 ITR 630 (P&H), "that merely because certain expenses claimed by the assessee are disallowed by an authority, it cannot mean that the particulars furnished by the assessee are wrong. Disallowance of an expense per se cannot mean that the assessee has furnished incorrect particulars of its income. Concealment involves penal action. It has to be proved as a conscious Act. It is true that direct evidence may not be available in every case. Yet, it must be proved as a necessary corollary from the facts and circumstances established on the record." The ratio laid down in the above decisions is applicable in the instant case ..... X X X X Extracts X X X X X X X X Extracts X X X X
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