TaxTMI 
TaxTMI 
2018 (5) TMI 1103
X X X X Extracts X X X X
X X X X Extracts X X X X
....enalty levied u/s.271AAA of the Act. We shall first take up the appeal of the assessee for A.Y. 2006-07. 2. Grounds raised by the assessee are as under : "Wherever context so require, the following grounds of appeal & prayers are without prejudice to one another and in alternative - In view of the facts of the case, submissions made and the provisions of law - 1. The Ld.CIT(A) erred in confirming penalty of Rs. 25,210/- u/s.271(1)(c). Therefore, it is prayed to cancel the penalty u/s.271(1)(c) of Rs. 25,210/-. 2. Appellant craves leave to add/amend/alter any grounds of appeal and/or prayers before or at the time of hearing." 3. Briefly stated relevant facts are that the assessee is an individual ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....of Sanjog Tarachand Lodha Vs. ITO - ITA Nos. 688 & 689/PN/2014, dated 31-08-2015. However, the CIT(A) discussed the legal issue raised by the assessee and upheld the penalty levied by the AO relying on the judgment of Gujarat High Court in the case of Sorathia Engineering 282 ITR 642. 5. Aggrieved with the order of CIT(A) the assessee filed the present appeal before us with the grounds raised above. 6. Before us, at the outset, Ld Counsel for the assessee drew our attention to the contents of Para 5 of the assessment order and submitted that this is a case where penalty of Rs. 25,210/- on the additional income disclosed by the assessee. AO initiated the penalty proceedings by stating "Penal proceedings under the provisions of section ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ssee on the legal issue of recording of satisfaction by the AO. In this connection, we proceed to extract the relevant lines from Para 5 of the assessment order and Para No.4 of the penalty order and the same reads as under : Para 5 of the assessment order : "5. .....................Penal proceedings under the provisions of section 271(1)(c) of the Act are initiated." Para 4 of the penalty order : "4. For the reasons recorded in the foregoing paragraphs of this order the undersigned is satisfied that the assessee has concealed particulars of income to the tune of Rs. 78,231/- by furnishing inaccurate particulars in respect of the same..............." From the above, it is clear that the AO initiated the p....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... We shall first take up the appeal of the assessee for A.Y. 2011-12. 10. Grounds raised by the assessee are as under : "Wherever context so require, the following grounds of appeal & prayers are without prejudice to one another and in alternative - In view of the facts of the case, submissions made and the provisions of law - 1. The Ld.CIT(A) erred in confirming penalty of Rs. 61,000/- u/s.271AAA. Therefore, it is prayed to cancel the penalty u/s.271AAA of Rs. 61,000/-. 2. Appellant craves leave to add/amend/alter any grounds of appeal and/or prayers before or at the time of hearing." 11. Briefly stated relevant facts are that there was search action u/s.132 of the Act on 20-04-2010. During the said a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....me in the return under the provisions of section 153A of the Act. Considering the fact that amount is offered to tax and taxes are paid and the manner of earning the same in the form of gifts on account of marriage of his daughter and on various occasions were also explained. In such case, as per assessee, the penalty should not be levied. On considering the above submissions of the assessee and after narrating the provisions of section 271AAAof the Act, CIT(A) decided the issue partly in favour of the assessee. Thus, the CIT(A) gave relief of Rs. 15,000/- and confirmed the penalty of Rs. 61,000/-. 13. During the proceedings before us, Ld. Counsel for the assessee read out the contentions made by the assessee before the lower authorities....