2021 (4) TMI 105

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....peared ORDER PER J. SUDHAKAR REDDY, AM: This is an appeal filed by the assessee directed against the order of the Learned Commissioner of Income Tax (Appeals)-6, Kolkata [hereinafter the "CIT(A)"], passed u/s. 250 of the Income Tax Act, 1961 (the 'Act'), dated 12.09.2019 for the Assessment Year 2004-05. 2. After hearing rival contentions we find that this is a case where the AO has not....

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....of the Karnataka and Bombay High Courts referred to in the preceding judgement and an unreported judgement of the Division Bench in Principal CIT - 1, Kolkata Versus M/S. SRMB Srijan Ltd. made on 26th February, 2019 on the same point. We make it absolutely clear that we have only gone into the question of technical defect in the notice stated to have been issued under Section 271(1)(c) re....

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....sment proceedings but for that reason best judgment assessment has been made and the income, which had escaped assessment has been added to the income of the assessee. It was incumbent upon the Revenue to make out a specific case for imposition of penalty, on which count the Revenue has failed. Under such circumstances, we do not find any reason to interfere with the Tribunal's order.....