2021 (1) TMI 81

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..... Ranu Biswas, Addl. CIT ORDER PER J. SUDHAKAR REDDY, AM: These appeals are filed by the assessees directed against separate orders of the Learned Commissioner of Income Tax (Appeals), Asansol, [hereinafter the "CIT(A)"], wherein he has confirmed the penalty levied u/s 271B, 271(1)(b), 272B and 271(1)(b) of the Income Tax Act, 1961 (the 'Act'), dated 05.11.2019 for the Assessment Year 201....

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....ngs bank account no. 30366020483 in State Bank of India at Neamatpur Branch is a joint account in the names of Sri Paresh Nath Mai and his wife Smt. Chandana Mai. It is stated that the deposits made in this account by declaring the PAN of Smt. Chandana Mai i.e. ALFPM 5470 J. Similar recording has been made in the assessment order in the case of Smt. Chandana Mai. Both husband and wife are partners....

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....u/s 44A of the Act. Hence the same is cancelled. We allow ITA No. 349/Kol/2020. 6.1. Coming to the penalty levied u/s 272B of the Act, we find that in the assessment order it is stated that the PAN of Smt. Chandana Mai has been quoted while depositing cash in the bank account. While so to levy penalty for not quoting PAN while making cash deposits is bad in law. Hence we cancel this penalty and....