TaxTMI 
TaxTMI 
2020 (11) TMI 3
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....pat, vide order dated 20th March, 2018 of Rs. 7,16,880/- was confirmed. 2. The assessee has raised the following grounds of appeal:- "1. On the facts and circumstances of the case, the order passed by the learned Commissioner of Income Tax (Appeals) [CIT(A)] is bad both in the eye of law and on facts. 2. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in confirming the penalty of Rs. 7,16,880/- levied by the AO in the under section 271(1)(c) of the Income Tax Act. 3. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in confirming the action of the AO in levying penalty under section 271(1)(c) of the Act without appreciating the fact that....
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....under Section 148 of the Act was issued on 27.01.2017. In response to the above notice assessee filed his return of income on 16.02.2017 at Rs. 36,05,950/-. In the return in response to re-opened proceedings assessee included the above income in his return of income and paid the tax due thereon. Consequent to assessment order under Section 147 read with Section 143(3) of the Act was passed on 24.07.2017 at the returned income of the assessee. Along with the assessment order, the Assessing Officer initiated penalty proceedings under Section 271(1)(c) of the Act. Notice under Section 274 read with Section 271(1)(c) of the Act dated 24.07.2017 was issued without striking of any of the twin charges provided under that Section. In response to th....
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....in Pr. CIT Vs. SSA's Emerald Meadows (2016) 73 Taxman.com 241 (Kar.) to support her case. 6. The ld. Departmental Representative stated that in the assessment order the Assessing Officer has clearly mentioned that assessee has concealed particulars of income and, therefore, even if one of the charges has not been struk off in the notice under Section 274 of the Act, the initiation of the penalty is valid. 7. Both the parties referred to several judicial precedents on either side which are considered. 8. We have carefully considered the rival contentions and perused the orders of the lower authorities. In this case at the time of initiation of the penalty proceedings, show cause notice under Section 274 read with Section 271(1)(c) of the ....