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TMI Blog2025 (5) TMI 710X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee had under reported and mis reported his income. In consequence of misreporting without appreciating that the said levy of penalty was not justified in law. 2. The learned Commissioner of Income Tax failed to appreciate that before the Commissioner of Income Tax, the assessee had duly explained that under reporting of income in his case was attributable to wrong action of tax consultant and all the material facts relating thereto along with substantiating evidences in form of complaint filed against Tax Consultant before Economic Wing of Police Department etc. were also furnished by the assessee and therefore, the levy of penalty u/s 271(1)(c) without rebutting the explanation offered by the assessee was not justified in view of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... response to notice u/s 148 of the IT Act. Subsequently, vide order dated 15.12.2021 the Assessing Officer imposed penalty of Rs. 56,350/- u/s 271(1)(c) of the IT Act for concealing the particulars of income. 4. After considering the reply of the assessee, Ld. CIT(A)/NFAC dismissed the appeal and confirmed the penalty of Rs. 56,350/- imposed u/s 271(1)(c) of the IT Act. It is this order against which the assessee is in appeal before this Tribunal. 5. Ld. AR appearing from the side of the assessee submitted before us that the order passed by Ld. CIT(A)/NFAC is unjustified. Ld. AR submitted before us that as soon as the fact of claiming excess refund by the tax consultant came in the knowledge of the assessee he immediately paid the due tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... im & others, claimed excess deduction under chapter VI-A of the IT Act & claimed refund. It was Kishor Patil who cheated all the employees & claimed excess deduction in their returns without informing them for his own benefit. The fact of the cheating came in light when a survey u/s 133A was conducted at the premises of Mr Kishor Patil. When the fact that this kind of fraud was made in the name of number of persons all of them complaint to the Economic Offence Wing of Police Nashik, against the tax consultant Kishore Patil. The news regarding fraud committed by Kishore Patil also flashed in the daily news paper of Nashik. It is also apparent that there is no mistake of the assessee but it was the hidden interest of the tax consultant who tr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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