TMI Blog2020 (7) TMI 667X X X X Extracts X X X X X X X X Extracts X X X X ..... 1(1)(c) of the Act, we don't think that it is a fit case for re-imposition thereof, by allowing the appeal of the Department before us under section 260A of the Act, which lies only on the substantial questions of law arising from the order of the learned Tribunal. No substantial question of law. - T.C.A.No.599 of 2017 - - - Dated:- 24-7-2020 - Dr. Justice Vineet Kothari And Mr. Justice Krishnan Ramasamy For the Appellant : Mr.T.R.Senthil Kumar For the Respondent : Mr.S.Sridhar ORDER DR.VINEET KOTHARI, J. The Court was held by Video Conference, as per the Resolution of the Full Court dated 3 July 2020, by Judges at their respective residence and the counsel, staff of the Court appearing from their respectiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dividend from those shares. The assessee claimed disallowance of expenditure under Section 14A of the Act. The assessee explained before the Assessing Officer that entire details were given in writing and there was no concealment of income nor any inaccurate particulars of such income were furnished. In those factual circumstances, the Apex Court held that mere making of a claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding the income of the assessee. Such claim made in the return cannot amount to inaccurate particulars. 11. Moreover, there was a real confusion as stated above in view of extension of Sunset Clause and amendment made in Finance Act, 2008 and 2009. Therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... only the Assessee was entitled to avail the benefits. 5. On the other hand, Mr.Sridhar, learned counsel for the respondent Assessee submitted that there was a bona fide confusion in the mind of the Assessee on account of the statement of Union Finance Minister made on the floor of the Parliament, extending the Sunset clause for this exemption for 100% Export Oriented Units up to the year 2015. However, he fairly conceded that when the Assessing Authority initiated action to deny such exemption for the AY 2011-12, in the present Assessment year, the Assessee not only withdrew his claim for exemption under Section 10B of the Act for the AY 2011-12 but also for the previous Assessment year AY 2010-11, by filing appropriate rectification ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... present appeal filed by the Revenue. The considerations for imposition of penalty under section 271(1)(c) of the Act are different and same parameters, which are applicable for imposition of tax on the Assessee, cannot be applied while considering the cases of penalty, especially for penalty for concealment and filing of inaccurate particulars under section 271(1)(c) of the Act. 7. It is true that the assessee made a claim under section 10B of the Act for two of his assessment years, namely AY 2010-11 and AY 2011-12 wrongly, to which it was not entitled. But, the fact is undisputed that the Assessee has not really gone away with this exemption claim finally, upon the assessment. He has withdrawn his claim for the previous assessment year ..... X X X X Extracts X X X X X X X X Extracts X X X X
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