TaxTMI 
TaxTMI 
TaxTMI 
2019 (7) TMI 1036
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....Shri P.S. Shingte, Shri Rajeev Kulkarni, Shri Vipin Gujarathi, Shri Nikhil Pathak, Shri Hari Krishan, Smt. Deepa Khare, Shri Prateek Jha, Shri Sanket Joshi, Shri Sarang Gudhate, Shri K. Srinivasan, Shri Pratik Sandbhor Revenue by: Mrs. Nandita Kanchan, CIT-DR, Shri M.K. Verma - all appeals ITA No. 1718/PUN/2017 & 1719/PUN/2017, 1683/PUN/2017, 1789/PUN/2017, 1887/PUN/2017, 1894/PUN/2017, 1913/PUN/2017, 2114/PUN/2017, 2152/PUN/2017, 2154/PUN/2017, 2155/PUN/2017, 2234/PUN/2017 To 2237/PUN/2017, 2323/PUN/2017, 2353/PUN/2017, 2494/PUN/2017, 2527/PUN/2017 & 2528/PUN/2017, 2704/PUN/2017, 2838/PUN/2017 To 2842/PUN/2017, 2934/PUN/2017, 141/PUN/2018, 201/PUN/2018, 243/PUN/2018, 259/PUN/2018, 261/PUN/2018, 505/PUN/2018, 794/PUN/2018, 875/PUN/2018, ....
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....gineering Works, Shri Vivek Ramchandra Pradhan, Shri Dineshkumar Nathmal Sharma, Late Suresh D. Agarwal Through L/H Ajay S. Agarwal, Shri Murlidhar Sadhuram Khemani, Mr. Hanumant P. Jadhav, Smt. Neetaben Bhupendra Shah, Sanjay Ramchandra Kadam, Jalna Siddhivinayak Alloys Pvt. Ltd., Govind Gangadhar Sabne, Poonawalla Stud Farm Pvt. Ltd., Poonawalla Astonish Stud Farm Pvt. Ltd., Poonawalla Estates Stud & Agri Farm Pvt. Ltd., Shri Jayantilal Oswal Versus The Dy. Commissioner of Income Tax, The Asst. Commissioner of Income Tax, M/s. Aurangabad Electricals Ltd., The Income Tax Officer, Shri Rahul Nayan Bhalerao, Shri Abhay Nayan Bhalerao, M/s. Shree Sai Associates, Shri Yogesh C. Zagade, Shri Ganesh L. Zagade, Shri Hrishikesh C. Zagade, Shri Mah....
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....e delay of 24 and 10 days, respectively, is condoned. 5. On perusal of records and after hearing the learned Authorized Representatives, we find that in this bunch of appeals, the Assessing Officer while completing assessment proceedings had initiated penalty proceedings for concealment under section 271(1)(c) of the Act. In some of the assessment orders while recording satisfaction for initiating the aforesaid penalty proceedings, the Assessing Officer has failed to mention the limb on account of which the assessee was held to have erred i.e. whether it is concealment of income or furnishing of inaccurate particulars of income. In some of the cases, we note that the Assessing Officer while recording satisfaction has initiated penalty proc....
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....on of none of the limbs or there is mention of contrary limb as to what it was initiated for, then whether penalty levied in such cases can be sustained in the eyes of law? 7. Different learned Authorized Representatives for the assessee have stressed that the issue stands covered by number of decisions of Pune Bench of Tribunal, wherein this issue has been decided in line with the ratio laid down by the Hon'ble Bombay High Court in CIT Vs. Shri Samson Perinchery (2017) 392 ITR 4 (Bom). In respect of appeals filed by Revenue, the assessee - respondent has similarly pleaded. However, the learned Departmental Representative for the Revenue has placed reliance on the orders of Assessing Officer / CIT(A) and find justification in the aforesaid....
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....itiation of penalty proceedings will not warrant/permit penalty being imposed for the other breach. This is more so, as an assessee would respond to the ground on which the penalty has been initiated/notice issued. It must, therefore, follow that the order imposing penalty has to be made only on the ground of which the penalty proceedings has been initiated, and it cannot be on a fresh ground of which the assessee has no notice." 9. The Hon'ble Goa Bench of Bombay High Court in a latest decision in the case of Pr.CIT Vs. New Era Sova Mine & Ors. in Tax Appeals Nos.70, 69 of 2018 & 6 of 2019, judgment dated 18.06.2019 applying the ratio laid down in CIT Vs. Shri Samson Perinchery (supra) have also similarly held. 10. Applying the said pri....