2019 (6) TMI 1055

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.....M. This is an appeal filed by the assessee against the order of ld.CIT(A), Ajmer dated 04/10/2017 for the A.Y. 2013-14 in the matter of imposition of penalty U/s 271D of the Income Tax Act, 1961 (in short, the Act), wherein the assessee has raised following grounds of appeal: "1. The impugned penalty order U/s 271D of the Act dated 18/06/2016 is bad in law and on facts of the case, fo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... CIT(A) confirmed the penalty so imposed, against which the assessee is in further appeal before the ITAT. 3. I have heard the rival contentions and carefully gone through the orders of the authorities below. From the record, I found that there are two partners in M/s Rambilas Shiv Kumar Kumar viz Om Prakash Nyati and Ram Bilas Nyati. The assessee Subhash Chand Nyati is brother of Om Prakash Ny....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ve payments, I observe that the assessee has not taken loan in cash. Actually joint family expenses have been incurred and paid from M/s Rambilas Shiv Kumar (Sister Concern) and debited equally (i.e. 1/3 to each) to Rambilas Nyati (father), Om Prakash Nyati (brother) and Subhash Chand Nyati(assessee) and he has not taken any cash 'rom the firm except Rs. 10000/- which was too paid directly to ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rm M/s Rambilas Shiv Kumar (Sister concern) and debiting the capital a/c of Subash Chand Nyati in which narration is given as "credited to M/s Rambilas Shivkumar and debited to household expenses as such no 'money' passed from firm to the assessee. 7. The Coordinate Bench of ITAT Ahemdabad in the case of ACTT vs Gujarat Ambuja Proteins Ltd. (89 TTJ 324) has held that where account of si....