2019 (6) TMI 607

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....CIAL MEMBER : Appellant, Shri Manav Sardana (hereinafter referred to as the 'assessee') by filing the present appeal sought to set aside the impugned order dated 24.06.2016 passed by the Commissioner of Income-tax (Appeals)-3, Gurgaon qua the assessment year 2010-11 confirming the penalty levied u/s 271AAA on the grounds inter alia that :- "1. That having regard to the facts and circumstances o....

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....71AAA and confirmed by Ld. CIT(A) is bad in law and against the facts and circumstances of the case." 2. Briefly stated the facts necessary for adjudication of the controversy at hand are : On the basis of assessment framed under section 143 (3)/153A (1)(b) of the Income-tax Act, 1961 (for short 'the Act') at the income of Rs. 1,96,29,030/-, penalty proceedings were initialed u/s 271AAA of the Ac....

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....resent appeal. 4. We have heard the ld. Authorized Representatives of the parties to the appeal, gone through the documents relied upon and orders passed by the revenue authorities below in the light of the facts and circumstances of the case. 5. Bare perusal of the impugned order passed by the ld. CIT (A) shows that the penalty has been confirmed by holding that the assessee has not paid "taxes....

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....ugned order passed by the ld. CIT (A) shows that somehow ld. CIT (A) has omitted to account for the deposit of Rs. 27,70,110/- made by the assessee in the bank being tax paid on the declared income and reached the conclusion to confirm the penalty levied by the AO, whereas computation of income and Form 26AS duly shows that the said amount has been paid in the bank on 04.01.2010 which is well with....