Case Law Details
Appellate Assistant Commissioner (CT) Vs Harish Agencies (Madras High Court)
1. There cannot be any concession merely because the dealer has paid the tax in installments after issuance of pre-assessment notices and no sympathy can be exercised on the said ground.
2. The Hon’ble Supreme Court pointed out that the Assessing Officer shall not be carried away by the plea of the assessee like ‘voluntary disclosure’, ‘buy peace’, ‘avoid litigation’, ‘amicable settlement’, etc., to explain away its conduct and the question is whether the assessee has offered any explanation for concealment of particulars of income or furnishing inaccurate particulars of income and the burden is on the assessee to show otherwise, by cogent and reliable evidence. However, the Hon’ble Supreme Court has pointed out that it is trite law that the voluntary disclosure does not release the appellant-assessee from the mischief of penalty proceedings.
3. If the assessee is able to show some bona fide reasons, which prevented them from disclosing the full turn over, then the Assessing Officer would be entitled to examine the same for its correctness.
4. The tax case revision filed by the Revenue is allowed and the questions of law are answered in favour of the Revenue and the finding of the Tribunal confirming the imposition of penalty at 1.5 times alone is set aside and the matter is remanded back to the Assessing Officer for a fresh consideration bearing in mind the observations made in this order.
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