2019 (9) TMI 188

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....D.R. ORDER This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-13, New Delhi, Dated 13.08.2018, for the A.Y. 2013-2014, challenging the levy of penalty under section 271(1)(c) of the I.T. Act, 1961. 2. Briefly the facts of the case are that A.O. levied penalty under section 271(1)(c) of the I.T. Act on three additions i.e., addition of Rs. 7,20,000/- made under s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sued notice under section 274 r.w.s. 271 Dated 25.02.2016 before levy of the penalty in which the A.O. has mentioned : "Have concealed the particulars of your income or furnished inaccurate particulars of such income in terms of Explanation 1, 2, 3, 4 and 5." 3.1. He has, therefore, submitted that the issue is covered by the Judgment of the Hon'ble Apex Court in the case of CIT vs. M/s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....shing of inaccurate particulars of income. The Karnataka High Court had followed the above judgment in the subsequent order in Commissioner of Income Tax v. SSA's Emerald Meadows (2016) 73 Taxman.com 241 (Kar), the appeal against which was dismissed by the Supreme Court of India in SLP No.11485 of 2016 by order dated 5th August, 2016. 22. On this issue again this Court is unable to find a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e. 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 73 taxmann.com 241. This decision is confirmed by the Hon'ble Supreme Court reported in 73 taxmann.com 248. Further, the Hon'ble Delhi High court recently vide Order dated 02.08.2019 in the....