Addition and penalty u/s 271 (1) for a.t. 2005-06
Akshay Panchal
(Querist) 03 February 2013
This query is : Resolved
I am a govt. employee and having joint a/c with my wife who also has legally entity and her I.T. return is also being filed regularly. However in the F.Y. 2004-05 my bank account was brought under scrutiny for excess cash transaction. Since then, I have been trying to satisfy I.T. Dept. but finally,Kindly note that as per ITA No.859/2012 & 860/2012 an order was passed on 07/09/2012 restricting the addition of Rs.412318/- & levy penalty u/s 271 (1)(c) on the tax payable. The said order was delivered to me in the month of Dec-2012. Before that I had already paid due tax on addition and submitted all the challan to ITO. But last week he has recalculated the tax on addition with interest w.e.f Feb-2008 and also calculated penalty with interest for the said date. I have always co-operated with d IT dept. and have never deny for any demand after CIT or ITT during the period. Everytime the dept. of IT has gone to higher level for increase of addtition to my income w.e.f 2008 ( no addition is done to my wife's income ) and hence why should I pay any interest or penalty for any addition made? Why income of my wife is not taken into consideration? So. Pl. advise n oblige.
C. P. CHUGH
(Expert) 08 February 2013
Having Travelled up to ITAT the proceedings in your case has reached Finality. Any amount sustained to be added to your Income by ITAT is liable for Tax, Interest and Penalty. AO is very much right in issuing you demand notice for the same. You have already exhausted various remedies available to you and Now it is time to Pay.
