TMI Blog2018 (11) TMI 1851X X X X Extracts X X X X X X X X Extracts X X X X ..... as narrated above, we find that the mistake of not disallowing the property tax paid appears to be a bonafide mistake and in any case the said expenses are not in doubt but only the allowability of the year. It is not known as to what details the Assessing Officer has called for, however, the assessee by letter dated 15.03.2013 surrendered same and it was submitted that it is a bonafide mistake. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eals)-42, Mumbai [hereinafter in short Ld. CIT(A)] in sustaining the penalty of ₹.62,042/- levied U/s. 271(1)(c) of the Act. 2. Briefly stated the facts are that, the Assessing Officer while completing the assessment noticed that the assessee debited property tax of ₹.2,00,778/- to the P L account which was unpaid and outstanding. He also noticed that the expenses were not disallow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed for disallowance. Ld. Counsel for the assessee submitted that the said expenses were allowed as deduction in the assessment year 2012-13 when the payment was made. It was submitted that there is no willful concealment or furnishing of inaccurate particulars of income, it is only an inadvertent mistake. The genuineness of the expenses is not doubted and it is only a question of year of allowabil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the penalty proceedings it was contended that unpaid property tax is inadvertently remained to be disallowed while preparing the income tax return and there is neither concealment of income nor furnishing of inaccurate particulars. The said disallowance was made by oversight, however while complying the details in the course of assessment proceedings assessee noticed the inadvertent mistake and re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter dated 15.03.2013 surrendered same and it was submitted that it is a bonafide mistake. In the circumstances, we do not see any concealment of income or furnishing of inaccurate particulars but it is only due to oversight assessee did not disallow the unpaid property tax during this assessment year which was ultimately allowed as expenses in assessment year 2012-13. Thus, we direct the Assessing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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