TMI Blog2021 (10) TMI 798X X X X Extracts X X X X X X X X Extracts X X X X ..... ved that prima-facie the assessment order suffered, inter alia, from the following errors i.e., the total income was assessed under the normal provisions and the book profit of ₹ 14,44,95,320/- was not assessed as income under Section 115JB of the Income Tax Act, 1961 . If he has to assess the book profit of ₹ 14,44,95,320/-, certainly the particulars of MAT calculation must have been available before the concerned officer. In any event, if such particulars, which according to Mr. Suresh Kumar are mandatorily to be furnished by the assessee, which is a company, before the original assessment order was passed, the Assessing Officer would have certainly called for those particulars from the assessee. In any event, even assuming ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was taxable under the provisions of Section 115JB (Special provision for payment of tax by certain companies) of the said Act. Respondent had agreed for the revision of the assessment pursuant to revision order under Section 263 following which the Assessing Officer passed order under Section 143 (Assessment) of the said Act assessing the income of respondent under Section 115JB. Respondent also paid tax under Section 115JB. The Assessing Officer, however, later levied penalty under Section 271 (1) (c) ( . any person - has concealed the particulars of his income or furnished inaccurate particulars of such income or) of the said Act on the ground that (a) respondent had made an attempt to reduce its tax liability by claiming wrong dedu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ault of not computing the book profit u/s 115JB, as required mandatorily by the provisions of Act, for the previous years and subsequent years as well. The book profit in the case of the assessee for subsequent years was also not offered by the assessee company to tax and the same was brought to tax by the AO in the assessment orders passed for subsequent years. This clearly shows that the assessee has been committing default for year after year with regard to compliance to clear and unambiguous provisions of the Act and has been avoiding payment of due taxes. 4. Even the question of law as proposed states for non furnishing of particulars of MAT calculation u/s 115JB in the return of income . The fact is the particulars have infact be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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