2021 (2) TMI 100

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...., C.A. For the Revenue : Mrs. Alka Gautam, Sr. D.R. ORDER PER BHAVNESH SAINI, J. M. This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-36, New Delhi, Dated 08.05.2017, for the A.Y. 2006-2007, challenging the levy of penalty under section 271(1)(c) of the I.T. Act, 1961. 2. Briefly the facts of the case are that return of income was filed on 28.03.2007 decl....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d inaccurate particulars of such income in terms of Explanation 1, 2, 3, 4 and 5." 3.1. He has submitted that A.O. has not specified as to for which limb penalty proceedings have been initiated whether for concealment of particulars of income or furnishing inaccurate particulars of income. Therefore, levy of the penalty is illegal and bad in Law. 4. On the other hand, Ld. D.R. relied upon th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of the Act, penalty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing inaccurate particulars of income. In the case of CIT vs., M/s. SSA's Emérald Meadows reported in 73 taxmann.com 241 (Kar.) (HC), the Hon'ble Karnataka High Court dismissed the appeal of the Revenue upholding the view of the Tribunal in cancelling the penalty in the similar....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ify which limb of Section 271(1) (c) the penalty proceedings had been initiated under i.e. whether for concealment of particulars of income or for furnishing of inaccurate particulars of income. The Karnataka High Court had followed the above judgment in the subsequent order in Commissioner of Income Tax v. SSA's Emerald Meadows (2016) 73 Taxman.com 241 (Kar), the appeal against which was dismisse....