2018 (6) TMI 1749

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....e. For the Respondent : Smt. Padma Meenakshi, JCIT (DR). ORDER Per Shri A.K. Garodia, Accountant Member This appeal is filed by the assessee and the same is directed against the order of ld. CIT(A) - 10, Bangalore dated 16.01.2018 for Assessment Year 2010-11. 2. The grounds raised by the assessee are as under. "1. The orders of the authorities below in so far as they are against ....

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....eciated that the appellant has neither concealed any income nor furnished inaccurate particulars of income to warrant levy of penalty and therefore, the penalty levied u/s.271[1][c] of the Act requires to be cancelled. 5. Without prejudice to the above, the penalty levied is highly excessive and liable to be reduced substantially. 6. For the above and other grounds that may be urged at the t....

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....r, the Tribunal has followed judgment of Hon'ble Karnataka High Court rendered in the case of CIT Vs. Manjunatha Cotton and Ginning factory as reported in (2013) 359 ITR 565 and it was held that the penalty order is invalid and consequently the penalty was deleted. He submitted that in the present case also, the issue should be decided in favour of the assessee on similar line. The ld. DR of r....