2019 (3) TMI 1587

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s appeal by assessee has been directed against the order of Learned CIT(A)-3, Delhi dated 26th April 2018, for the assessment year 2009-2010, challenging the levy of penalty under section 271(1)(c) of the Income Tax Act, 1961. 2. Briefly the facts of the case are that assessee filed return of income declaring income of Rs. 39,09,563/- on 26th September, 2009 and the same as processed under sect....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... officer vide separate order levied the penalty under section 271(1)(c) of the Act on this addition holding that assessee has "deliberately concealed the particulars of income" to the extent of Rs. 6,44,060/-. The Learned CIT(A) dismissed the appeal of assessee. 3. I have heard the Learned Representatives of both the parties and perused the material on record. 4. Learned Counsel for the Asse....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....as mentioned both the limbs of Section 271(1)(c) of the Income Tax Act. Therefore, the notices issued before levy of the penalty is invalid and bad in law and no penalty is leviable because the satisfaction of the assessing officer in the impugned order are also invalid and bad in law. 5. On the other hand, Learned Departmental Representative relied upon the orders of the authorities below and ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... has been initiated, whether for concealment of income or furnishing inaccurate particulars of income. 6.1. In the present case, the assessing officer while passing the assessment order initiated the penalty proceedings for furnishing inaccurate particulars of income. However, levied the penalty for concealing the particulars of income. In the show cause notice issued before levy of the penalty....