2019 (5) TMI 1324

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....e : Shri Abhi Rama Karthikeyan ORDER PER SAKTIJIT DEY. J.M. The aforesaid appeal has been filed by the assessee challenging the order dated 5th March 2016 passed by the learned Commissioner (Appeals)-2, Mumbai, confirming penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 (for short "the Act") pertaining to the assessment year 2006-07. 2. The legal issue raised in the ....

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....e assessment order by bringing the total income computed under the normal provisions of the Act to tax. On the basis of addition/disallowance made in the assessment order, the Assessing Officer initiated proceedings for imposition of penalty under section 271(1)(c) of the Act and ultimately passed the order under the said provision on 31st March 2014, imposing penalty under section 271(1)(c) of th....

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....l provisions of the Act will not survive. In support of such contention, he relied upon the decision of the Co-ordinate Bench in Mehta Sulfites India Ltd. v/s ACIT, ITA no. 4772/Mum./2013, dated 20th November 2015. 6. The learned Departmental Representative, though, relied upon the observations of learned Commissioner (Appeals), however, he fairly submitted that assessee's tax liability has ult....

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.... of the Act, the Assessing Officer imposed penalty under section 271(1)(c) of the Act. However, while giving effect to the order passed by the learned Commissioner (Appeals), the Assessing Officer in his order dated 26th July 2017, a copy of which is placed before us by the learned Authorised Representative has computed the total loss of the assessee under the normal provisions of the Act at Rs. 7....