{"id":14474,"date":"2020-12-13T13:42:33","date_gmt":"2020-12-13T13:42:33","guid":{"rendered":"https:\/\/itatonline.org\/digest\/deem-roll-tech-ltd-v-dy-cit-2020-78-itr-45-sn-ahd-trib\/"},"modified":"2020-12-13T13:42:33","modified_gmt":"2020-12-13T13:42:33","slug":"deem-roll-tech-ltd-v-dy-cit-2020-78-itr-45-sn-ahd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/deem-roll-tech-ltd-v-dy-cit-2020-78-itr-45-sn-ahd-trib\/","title":{"rendered":"Deem Roll-Tech Ltd. v Dy. CIT (2020) 78 ITR 45 (SN) ( Ahd) (Trib)"},"content":{"rendered":"<p>Tribunal held that it was only a case of opinion on the part of the Assessing Officer that the assessee had diverted interest bearing funds to interest-free advances ignoring the fact that the assessee had huge interest-free reserves. The penalty was imposed by calculating notional interest on interest-free advances. The assessee had not concealed any particulars of income. Even if the assessee had made a wrong claim a mere wrong claim could not amount to furnishing of inaccurate particulars of income or concealment of income. The penalty was not sustainable.( AY.2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 271(1)(c) : Penalty \u2013 Concealment \u2013 Disallowance of interest -Mere wrong claim not tantamount to furnishing of  inaccurate particulars of  income or  concealment of  income.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14474","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Ls","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14474"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14474\/revisions"}],"predecessor-version":[{"id":14475,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14474\/revisions\/14475"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}