2020 (4) TMI 622

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...., the AO and Appellate Commissioner erred and levied and confirmed the penalty. 2. This was the first time when the assessee was scrutinized and he is a student after all. However, he had declared additional income and paid the taxes and showed his bonafide intention. 3. The claim of section 54 was required to be withdrawn because of the sanction and completion could not be obtained from the proper authority because of the policy matter of the Nashik Municipal Corporation. 4. The detail submission and any additional grounds of appeal will be submitted before or during the course of appeal hearing. It may please be allowed. 5. The withdrawal of the benefit of sec.54F is technical in nature and so motto don....

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....ng Officer. The contents of para 5 onwards of the appellate order are relevant in this regard. 7. Aggrieved with the said decision of the CIT(A), the assessee is in appeal before the Tribunal with the above extracted ground. 8. It is seen from the record that the order of the CIT(A) shall have to be set-aside on the legal issue relating to the ambiguity in the mind of the Assessing Officer while dealing with the initiation and levy of penalty. Highlighting the legal requirement of making a specific reference to the specific limb of clause (c) of section 271(1) of the Act and relying on various binding judgments in the case CIT Vs. Shri Samson Perinchery (2017) 392 ITR 4 (Bom.) as well as the judgment of Hon'ble Karnataka High Court in....