Section 271(1)(c), read with section 115JB, of the Income-tax Act, 1961

IT : Where assessee's Chartered Accountant committed a mistake while computing book profits under section 115JB which he admitted by filing a personal affidavit, no case was made out for levy of penalty
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[2015] 55 taxmann.com 180 (Delhi)
HIGH COURT OF DELHI
Commissioner of Income-tax, Delhi-2
v.
Compro Technologies (P.) Ltd.*
SANJIV KHANNA AND V. KAMESWAR RAO, JJ.
IT APPEAL NO .744 OF 2014
DECEMBER  9, 2014
Section 271(1)(c), read with section 115JB, of the Income-tax Act, 1961 - Penalty - For concealment of income (Disallowance of claim, effect of) - Assessment year 2009-10 - Whether where Chartered Accountant appointed by assessee - Company committed a mistake while computing book profits under section 115JB which he admitted by filing a personal affidavit before Tribunal, assessee could not be held guilty of concealment of particulars of income so as to levy penalty under section 271(1)(c) - Held, yes [In favour of assessee]

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