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Failure to furnish explanation for wrong claims may invite penalty
Case Law Details
- Case Name
- CIT Vs. Zoom Communications Private Limited (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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CIT Vs. Zoom Communications Private Limited (Delhi High Court)
ITA 07/2010,(2010) 191 Taxman 179, [2010] 327 ITR 510
Judgement Delivered on: 24.05.2010,
Delhi High Court Ruling: If the assessee makes a claim which is not only incorrect in law but is also wholly without any basis and the explanation furnished by him for making such a claim is not found to be bonafide, it would be difficult to say that he would still not be liable to penalty under section 271(1)(c) of the Act
Facts:
Zoom Communications Private Limited (the assessee / company) was engaged in the business of hiring of audio a...
going back to dharmendra textiles.and there were several judjment after that to convey that the mistake of this type sould not attract the penalty.
This appears to be contrary and we are back to square one