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Documents citing M/S. Netambit Value First Services Pvt. ... vs Dcit, New Delhi on 16 February, 2018

Savitri Srirangam, New Delhi vs Acit, Circle 50(1), New Delhi on 7 August, 2023

139. Only after confronted with the material indicative of having undisclosed income, the appellant filed return of income on 30.03.2018 declaring total income of Rs. 20,23,510/- for A.Y. 2011-12. The filing of return of income u/s 139 was expired on 31.03.2013. Therefore a return of income filed after five years from time limit allotted u/s 139 cannot be said as a valid return. The appellant's claim before the A.O., that it had declared Page | 3 income before issue of notice u/s 148 thus holds no water. Further, on the additions made of Rs. 17,40,381/- on account of disallowance of expenses, the appellant conveniently claim that she had misplaced the supporting evidence and in order to avoid litigation she has agreed to pay taxes. Secondly, the appellant before the A.O. relied upon the judgment of Hon'ble Delhi Tribunal in the case of Netambit Value First Pvt Lt Vs DCIT (2018 (3) TMI 36-Hon'ble ITAT Delhi). On perusal of the case, it was noticed that hon'ble Tribunal had allowed relief from penalty where disallowance was made u/s 40a(ia). It was not a case that the payments were doubted rather payments were made without TDS, which attracted disallowance u/s 40a(ia). The case of the appellant is entirely different. The appellant claimed expenses and no details of the expenses were available making the entire expenses as bogus. Thus the case law cited by the appellant before the A.O., was not applicable in the appellant's case. Thus the appellant had not filed the return of income u/s 139 and concealed particulars of income to the extent of 37,63,890/-. Accordingly, penalty levied by the A.O. is upheld. The Ground Nos. 1 & 2 are hereby DISMISSED."
Income Tax Appellate Tribunal - Delhi Cites 2 - Cited by 0 - Full Document
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