2019 (2) TMI 1635

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.... PER BHAVNESH SAINI, J.M. Both the appeals by Assessee are directed against the Common Order of the Ld. CIT(A)-XXVI, New Delhi, Dated 31.03.2015 for the A.Ys. 2010-2011 and 2011-2012, challenging the levy of penalty under section 271(1)(c) of the I.T. Act, 1961. 2. We have heard the Learned Representatives of both the parties and perused the material available on record. 3. Learned Cou....

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....e above appeals are bad in law as the same did not provide under which limb of Section 271(1)(c) of the I.T. Act, the penalty proceedings have been initiated. Therefore, the issue is covered by the Judgment of Hon'ble Karnataka High Court in the case of CIT vs. M/s. SSAs Emerald Meadows 73 taxmann.com 241. This decision is confirmed by the Hon'ble Supreme Court reported in 73 taxmann.com 248. 4....

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....ad been initiated i.e., whether for concealment of particulars of income or furnishing inaccurate particulars of income. The entire penalty proceedings are, therefore, vitiated and no penalty is leviable. On this score itself similar view is taken by Hon'ble Karnataka High Court in the case of CIT vs. M/s. SSAs Emerald Meadows (supra) which has been confirmed by the Hon'ble Supreme Court reported ....