HIGH COURT OF JUDICATURE AT HYDERABAD FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA PRADESH PRESENT THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. NO.664 OF 2014 DATED:26.11.2014 Between:
Commissioner of Income Tax – III IT Towers, A.C. Guards Hyderabad … Appellant And M/s. Sushee Infra Private Limited [Formerly known as Sushee Hi Tech Constructions Private Limited] Plot No.246/A, MLA Colony, Road No.12, Banjara Hills Hyderabad … Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. NO.664 OF 2014 JUDGMENT: (per the Hon’ble The Chief Justice Sri Kalyan Jyoti Sengupta) This appeal is sought to be admitted against the judgment and order of the learned Tribunal dated.28.5.2014, in relation to the assessment year 2006-2007. The learned Tribunal did not approve of initiation of penalty proceedings as it found that pre-conditions for initiation of penalty proceedings are not satisfied. The learned Tribunal on fact found that there has not been any concealment of income rather it was disclosed in a wrong way. Following the
[1]
Supreme Court judgment in C.I.T. v. Reliance Petro Products the learned Tribunal found that the assessee made an incorrect claim of deduction and concluded that furnishing inaccurate claim for deduction is not concealment rather on fact that amounts to receipt as has been disclosed to claim deduction so that it cannot be brought under purview of the tax network. Taxability of any income is one thing and concealment of income is another thing. Here the intention of the assessee was not to bring this particular amount in taxability regime hence it is not concealment.
The appeal is accordingly dismissed. There will be no order as to costs.
K.J. SENGUPTA, CJ SANJAY KUMAR, J 26.11.2014 bnr
[1] 322 ITR 158 (SC)