2020 (8) TMI 321

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....T) ORDER PER: VIKRAM SINGH YADAV, A.M. This is an appeal filed by the assessee against the order of ld. CIT(A), Ajmer dated 18.09.2018 wherein the assessee has taken the following grounds of appeal:- "1. The impugned penalty order u/s 271(1)(c) of the Act dated 03.03.2017 is bad in law and on facts of the case, for want of jurisdiction and various other reasons and hence the same....

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....g, the ld. AR submitted that the assessee firm deals in the business of cattle feed on whole sale basis. The return of income was filed on 14.10.2010 declaring total income of Rs. 33,274/-. A survey u/s 133A was conducted on 15.09.2009 at the business premises of Goyal Group at Ajmer, which also included the assessee. During the course of survey, the assessee offered the amount of undisclosed inco....

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....ared of the return of income and the relevant findings of the Tribunal reads as under:- "11. The Co-ordinate Jaipur Bench of ITAT has already been taking this view in the case of ITO vs. Suresh Chandra Koolwal (2004) 32 TW 23 (Jp). Various Benches of the ITAT have taken similar view such as in the cases of R. K. Synthetics 30 TW 228 (Jd). Ashok Kumar Soni vs. DCIT (2001) 72 TTJ 323 (Jd), ....

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....eleted by the Tribunal, the consequent penalty levied deserves to be deleted. 5. Per contra, the ld. DR submitted that the addition has been made by the AO pursuant to survey conducted by the Department and it is therefore, not a case of voluntarily disclosure by the assessee. It was further submitted that given that in the quantum proceedings, the Tribunal has restricted the addition made by t....