2019 (1) TMI 288

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... ORDER PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeal by assessee for Assessment Year [AY] 2012-13 contest the order of Ld. Commissioner of Income Tax (Appeals)-37, Mumbai [CIT(A)], Appeal No. CIT(A)-37/IT-599/ACIT-25(1)/15-16 dated 29/12/2016 qua confirmation of penalty u/s 271(1)(c) for Rs. 1,86,731/-. 2. Facts leading to the levy of penalty are that the assessee be....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....essee. As per submissions of Ld. Authorized Representative for Assessee [AR], the stated addition has been accepted by the assessee keeping in view the smallness of the amount and no further appeal has been filed against the same. 3. Consequently, penalty proceedings u/s 271(1)(c) against the stated quantum addition was initiated and the assessee was saddled with impugned penalty of Rs. 1.86....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tiated since the assessee not only concealed particulars of income but also filed inaccurate particulars thereof. The perusal of notice u/s 274 read with Section 271 dated 20/03/2015, as placed on record, reveal that the appropriate clause as applicable to the fact of the case was not marked and secondly, the appropriate limb for which the penalty was being initiated was not marked / ticked. The p....