| COURT: | ITAT Delhi |
| CORAM: | George George K (JM), Sudhakar Reddy (AM) |
| SECTION(S): | 271(1)(c) |
| GENRE: | Domestic Tax |
| CATCH WORDS: | concealment of income, furnishing inaccurate particulars of income, penalty |
| COUNSEL: | Raj Kumar Gupta |
| DATE: | January 16, 2015 (Date of pronouncement) |
| DATE: | January 19, 2015 (Date of publication) |
| AY: | 1997-98 |
| FILE: | Click here to download the file in pdf format |
| CITATION: | |
| S. 271(1)(c): Penalty cannot be levied for an assessment made in a cursory & summary manner | |
A perusal of the assessment order demonstrates that it has been passed in a cursory and summary manner, de hors of any detail, except for mentioning that certain figures had not tallied, no analysis whatsoever or reasons leading to the disallowance, are given by the AO. AO simply says that the assessee has filed reply explaining the discrepancies but does not give any reason as to why the explanation cannot be accepted. Nowhere in the penalty order the charge on which penalty is being levied has been specified. Such an assessment, in our view cannot be a basis for levy of penalty u/s 271(1)(C) (New Holland Tractors India (P) Ltd. Vs. CIT & CIT vs. Manjunatha Cotton and Ginning Factory followed)
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