2018 (4) TMI 179

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s been directed against the order of the Ld. CIT(A)-20, New Delhi, dated 23rd June, 2017, for the A.Y. 2011-2012, challenging the levy of penalty under section 271(1)(c) of the I.T. Act, 1961. 2. The assessee filed return of income declaring income at Rs. 21,38,807 on 29th September, 2011. The A.O. passed the assessment order us 13(3) dated 16th January, 2014, thereby, made certain additions. The....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... for the Assessee referred to page-1 of the paper book which is show cause notice before levy of penalty dated16th January, 2014, in which the A.O. has asked for explanation of assessee by mentioning "have concealed the particulars of your income or furnished inaccurate particulars of such income". Learned Counsel for the Assessee, therefore, submitted that A.O. was not sure as to for which limb o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on of concealment of particulars of income or on account of furnishing of inaccurate particulars thereof. Even the satisfaction note made in the assessment order or the penalty order also does not indicate whether it was a case of concealment of income or furnishing of inaccurate particulars of income. Therefore, laying our hands on the decisions of Gujrat High Court in the case of Manu Engineerin....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....account of professional receipt which were not shown in the original return of income. The assessee has filed revised Profit & Loss A/c and balance sheet. Therefore, mere surrender is not enough. 5. I have considered the rival submissions and perused the material on record. The A.O. while making addition of Rs. 6,33,000 on account of surrender of professional receipts, initiated the penalty proce....