9911796707
TMI Blog2018 (10) TMI 1989X X X X Extracts X X X X X X X X Extracts X X X X ..... lead case. 3. ITA No.4438/Mum/2017 for A.Y. 2006-07 : This appeal is directed against the order of the CIT(A)-52, Mumbai, dated 16.03.2017, which in turn has arisen out of the order passed by the Addl. CIT, Central Range-2, Mumbai u/s. 272A(1)(c) of the Income Tax Act, 1961 (hereinafter referred to as "the Act") levying penalty of Rs.10,000/-. 4. Briefly, relevant facts are that the appellant is an individual whose assessment proceedings for the captioned assessment years were going on. Summons u/s. 131 of the Act, dated 18.07.2013, was issued by the ACIT Central Circle -9, Mumbai. In response, the assessee appeared and his statements were duly recorded. By the same summons, assessee was also required to submit a duly filled and notarized Consent Waiver Form in connection with the bank - HSBC, Geneva, which the assessee failed to do; and, therefore the levy of penalty u/s 272A(1)(c) of the Act for the aforesaid default. Slight elaboration on this aspect is needed here. The impugned order notes that certain information was received under the Article 28 of the Indo-French Fiscal Convention Treaty of 29.11.1992, regarding some specific foreign bank accounts held by persons belongi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee as he did not have any interest whatsoever in the said account. The assessee also asserted that he has been attending to all the proceedings carried out under the Act and that there was no failure which would attract levy of penalty u/s 272A(1)(c) of the Act. 7. The Addl. CIT, Central Range-2, Mumbai was not satisfied with the explanation furnished by the assessee. According to him, the reluctance of the assessee in providing Consent Waiver Form highlighted the non-cooperation on the part of the assessee "to submit the requisite documents" and, therefore, he found it to be a fit case for levy of penalty u/s 272A(1)(c) of the Act. As a consequence, he levied a penalty of Rs.10,000/- u/s 272A(1)(c) of the Act. This levy has been further upheld by the CIT(A) primarily for the reasons assigned by the Addl. CIT, Central Range-2, Mumbai in the penalty order. Not being satisfied with the order of CIT(A), assessee is in further appeal before us. 8. Before we proceed to dwell with the rival contentions, it was noticed that in the case of Shri Jay Ketan Parikh, a singular penalty of Rs.10,000/- has been levied though the stated assessment years are six, i.e. from Assessment Year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ath, (c) compelling the production of books of account and other documents; and (d) issuing commissions." "272A(1)(c) to whom a summons is issued under sub-section (1) of section 131 either to attend to give evidence or produce books of account or other documents at a certain place and time omits to attend or produce books of account or documents at the [place or time; or]" 10. By referring to the relevant provisions of Sec. 131(1) of the Act, the learned representative pointed out that so far as clauses (a), (b) or (d) are concerned, apparently the same are not relevant in the present context. It has been elaborated by the learned representative that the alleged failure in the present case, namely, non-submission of Consent Waiver Form can at best be attempted to be covered by the Revenue in clause (c) of Sec. 131(1) of the Act. Herein also, the learned representative pointed out that the alleged failure does not constitute non-production of books of account and nor it can be taken to be failure to produce other documents as envisaged in clause (c) of Sec. 131(1) of the Act. The learned representative referred to pages 9 to 11 of the Paper Book, wherein is placed a copy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alia, required to submit a duly filled and notarised Consent Waiver Form in connection with HSBC Bank, Geneva. It is also noteworthy that the assessment proceedings intended to assess the income in the hands of the assessee arising from the said bank account, to which assessee was denying its liability. Be that as it may, in the present proceedings we are not concerned with the merit of such stand of the assessee as the same would be dealt with in the respective quantum proceedings. The limited issue before us is as to whether there was any default on the part of the assessee to comply with the requirements of summons u/s 131 of the Act so as to justify imposition of penalty in terms of Sec. 272A(1)(c) of the Act. The Addl. CIT Central Range-2, Mumbai has levied penalty on the failure of the assessee to submit a duly filled, signed and notarised Consent Waiver Form in connection with HSBC Bank, Geneva. The moot question that is brought up by the assessee is as to whether non-signing of said Consent Waiver Form constitutes a default so as to attract penalty u/s 272A(1)(c) of the Act. A copy of the said Consent Waiver Form is placed in the Paper Book at pages 10 to 13 alongwith a cop ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
