2020 (4) TMI 427

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....None ORDER PER PRASHANT MAHARISHI, A. M. : This appeal is filed by the assessee against the order of the Commissioner of Income Tax (Appeals)-28, New Delhi, dated 09.02.2017 for assessment year 2010-11 and assessee aggrieved has filed this appeal. The only issue in this appeal is confirmation of penalty under Section 271(1)(c) of the Income Tax Act, 1961 (the Act) amounting to Rs. 2,12,13....

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.... other addition. The additions confirmed were as under: (i) Rs. 35,100/- on disallowance of depreciation; (ii) Rs. 44,874/- on disallowance of 50% of the expenditure; (iii) Rs. 5,22,787/- on account of un-disclosed business receipts. 2.1 After the order of the learned CIT (Appeals) assessee did not prefer any appeal at higher forum. Therefore, the Assessing Officer re....

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....f the learned CIT (Appeals) has preferred this appeal. 3. The learned Authorized Representative submitted that in the order of the assessment, in the show cause notice issued under section 274 of the Act on 28.3.2016 the learned Assessing Officer has not stuck off any of the twin charges and further in the penalty order also the Assessing Officer has not specified one of the charges of penalty ....

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.... High Court on this issue, we reject the adjournment application of the Revenue. 4. On careful consideration of the notice issued under section 274 of the Act on 28.03.2013, it is apparent that the Assessing Officer has not stuck off any of the twin charges. In the assessment order also in para No. 12 (ii) the Assessing Officer has initiated penalty proceedings, for concealing the particulars o....