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Young Indian v. ADIT( 2018) 169 DTR 382/ 195 TTJ 584 ( Delhi)(Trib),www.itatonline.org

S. 272A : Penalty – Failure to answer questions – Sign statements – Furnish information –When conduct of the assessee is not bonafide , levy of penalty for non compliance of S.131(IA) is held to be valid.[S. 131(1), 131(IA), 133(6)]

Dismissing the appeal of the assessee the Tribunal held that not submitting the details as called for by the ADIT (Inv.) is concerned was a deliberate defiance on the part of the assessee for non- submission of the same under the pretext that some of the details are available in the records of the Income Tax Department or some of the details are available in the Website of the Ministry of Corporate Affairs. Tribunal held that no prejudice would have been caused to the assessee by submitting the details as called for by the ADIT (Inv.), as per the summons u/s 131(1A) if those details are already available in the records of the I.T. Department or in the website of the Ministry of Corporate Affairs. The conduct of the assessee in the instant case, is not at all bona-fide therefore ley of penalty is held to be justified. ( ITA No.5303/Del/2016, dt. 30.08.2018)(AY. 2011-12)

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