TaxTMI 
TaxTMI 
2019 (10) TMI 1175
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....ls before the Tribunal. In the application for condonation of delay along with affidavit, it has been stated that the order of CIT(A) was received by the assessee on 23.8.2018 and the AR had sought certain additional documents for preparing the appeal. The relevant documents were in the custody of Dr. Somashekar H. Kerudi interacting with the CA of assessee, who was travelling outside the country on professional engagements and hence the documents could not be furnished to the AR in time. outside the country on professional engagements and hence the documents could not be furnished to the AR in time. After making available the documents to the AR, immediately the appeals were filed on 30.10.2018 wherein there was a delay of 8 days in filing....
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....ssessee shall pay by way of penalty, in addition to tax, if any, payable by him,- (a) a sum computed at the rate of ten per cent of the undisclosed income of the specified previous year, if such assessee- (i) in the course of the search, in a statement under subsection (4) of section 132, admits the undisclosed income and specifies the manner in which such income has been derived; (ii) substantiates the manner in which the undisclosed income was derived; and (iii) on or before the specified date- (A) pays the tax, together with interest, if any, in respect of the undisclosed income; and (B) furnishes the return of income for the specified previous year declaring such undisclosed income t....
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....has ended before the date of search, but the date of furnishing the return of income under sub-section (1) of section 139 for such year has not expired before the date of search and the assessee has not furnished the return of income for the previous year before the date of search; or (ii) in which search was conducted; (c) "undisclosed income" means- (i) any income of the specified previous year represented, either wholly or partly, by any money, bullion, jewellery or other valuable article or thing or any entry in the books of account or other documents or transactions found in the course of a search under section 132, which has- (A) not been recorded on or before the date of search in the books of acco....
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....ancelled the order imposing penalty. Our attention was also drawn to the decision of ITAT Panaji Bench in the case of DCIT v. Volga Dresses in ITA Nos.201 & 201/PAN/2016 for AYs 2013-14 & 2014-15, order dated 27.03.2017 wherein similar decision was rendered. 9. The ld. DR relied on the order of CIT(Appeals). 10. We have considered the rival submissions. We find that an identical plea was put forth by the assessee in the case of Shreeji Corporation (supra) and the Ahmedabad Bench of the Tribunal in its order accepted the stand and held as follows:- "5. A perusal of the assessment order undisputedly points out that no search had taken place in the case of the assessee per se under s.132 of the Act. A bare reading of law codifie....
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....onsidered the rival submissions. A perusal of the provisions of section 271AAB shows that the opening words are "penalty where search has been initiated" a perusal of the provisions under Section 271AAB also talks of the assessee declaring any undisclosed income in the course of the search in the statement under section 132(4). Admittedly in the present case, that is in the case of the assessee firm in appeal there has been no search. Search admittedly is on the residence of one of the partner of the assessee firm. Further a perusal of the order of the learned CIT(A) also clearly shows that the learned CIT(A) has cancelled the penalty on the ground that there was no search in the case of the assessee firm. The revenue has not been able to p....