2021 (6) TMI 886

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....as called for hearing, neither the assessee nor any of its authorized representative appeared before us to contest its appeals. There is no application for adjournment either. In this view of the matter, we proceed to dispose off these appeals ex-parte qua the respondent assessee after hearing the learned Departmental Authorities and on perusal of the record available before us. ITA No. 6375/Mum./2019 - A.Y. 2009-10 M/s. Remi Electrotechnik Ltd. 3. Facts in brief:- The assessee company is engaged in the business of manufacturing and selling of electrical motors and laboratory equipments. It filed return of income on 25th August 2011, declaring total income at Rs. 1,06,25,020. The assessment was completed on 15th December 2011, determi....

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.... January 2015 and the addition was made on the issue of bogus purchase. Consequently, the Assessing Officer also initiated penalty proceeding under section 271(1)(c) separately. The assessee challenging the addition made by the Assessing Officer filed appeal before the first appellate authority. The learned Commissioner (Appeals) partly allowed the appeal of the assessee and sustained the addition to the extent of Rs. 6,15,112, which worked out to 12.5% of the alleged bogus purchase worth Rs. 49,20,896. Consequently, the Assessing Officer issued show cause notice dated 21st November 2017, under section 271(1)(c) of the Act to the assessee which was responded by the assessee by filing reply vide letter dated 9th February 2018. The Assessing ....

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.... levied under section 271(1)(c) of the Act. The Revenue being aggrieved by this order of the learned Commissioner (Appeals), filed appeal before the Tribunal. 5. Considered the submissions of the learned Departmental Authorities and perused the material on record. As it transpires from the record available before us that the Assessing Officer levied penalty under section 271(1)(c) of the Act on estimate basis without any evidence on record with regard to concealment of income. Penalty under section 271(1)(c) of the Act is leviable to be imposed only where the assessee has concealed its particulars of income or furnished inaccurate particulars. Action of making addition on ad-hoc basis does not result into imposition of penalty u/s. 271(1....