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Case Law Details

Case Name : Whirlpool of India Ltd. Vs. DCIT (ITAT Delhi)
Appeal Number : ITA Nos. 2231, 2094/DEL/2010
Date of Judgement/Order : 08/11/2017
Related Assessment Year :
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Whirlpool of India Ltd. Vs. DCIT (ITAT Delhi)

In the present case, there is admission on part of the assessee that the quantum of depreciation claim was incorrectly computed at enhanced cost. It is well settled principle that ignorance of law is not excused and cannot be a ground to avoid tax liability. The Assessee in the instant case is renowned Ltd. Company and accounts of the company are duly audited by the qualified auditors. Before filing the returns of income, the same are verified by the Directors of the Company. Therefore, it cannot be considered as mere clerical error on part of the assessee Company. In fact, the Commissioner (Appeals) rightly observed that had the assessee’s case not been selected for scrutiny, the assessee would have got away with the excess claim of depreciation.

In view of the above and the findings given by the Commissioner (Appeals), we do not find any infirmity in the same. Accordingly, the penalty in this respect is upheld and grounds raised by the assessee in Cross objection on this issue is dismissed.

FULL TEXT OF THE ITAT ORDER IS AS FOLLOWS:-

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