Commissioner of Income-tax I, Chennai v. C. Aswini Dutt
[Citation -2019-LL-0819-115]
Citation | 2019-LL-0819-115 |
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Appellant Name | Commissioner of Income-tax I, Chennai |
Respondent Name | C. Aswini Dutt |
Court | HIGH COURT OF MADRAS |
Relevant Act | Income-tax |
Date of Order | 19/08/2019 |
Assessment Year | 2003-04 |
Judgment | View Judgment |
Keyword Tags | incriminating material • concealment of income • unaccounted cash • return of income • search conducted • low tax effect • monetary limit • penalty • seized document |
Bot Summary: | These appeals, filed by the Revenue under Section 260A of the Income Tax Act, 1961, are directed against the common order dated 12.6.2009 made in ITA.Nos. 1599, 1600 and 1603/H/2008 on the file of the Income Tax Appellate Tribunal, Hyderabad 'B' Bench respectively for the assessment years 2003-04, 2004-05 and 2003-04. Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in holding that when the assessee was found to have been maintaining two sets of accounts, he could disown one set of accounts without any obligation to explain the discrepancies within the two sets of accounts and thereby holding that no penalty under Section 271(1)(c) of the Act could be levied for concealment of income And iii. Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in not holding that when there is admission on the part of the assessee of concealed income after being confronted with the incriminating material found during the search, there was any burden on the Assessing Officer to prove the concealment disregarding the several judicial rulings on this issue like 271 ITR 286 4. The learned Senior Standing Counsel for the appellant submits that the above appeals are not pursued by the Revenue on account of the low tax effect in terms of Circular No.17/2019 dated 08.8.2019 issued by the Central Board of Direct Taxes. In the light of the said submissions, the above tax case appeals are dismissed on account of the low tax effect. In the event the tax effect in the respective cases is above the threshold limit fixed in the said circular, liberty is granted to the Revenue to make a mention to this Court to restore the appeals to be heard and decided on merits. |