2021 (9) TMI 327

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... ORDER PER MANISH BORAD, A.M The above captioned appeal filed at the instance of the assessee pertaining to Assessment Year 2014-15 is directed against the orders of Ld. Commissioner of Income Tax-II (in short 'Ld. CIT], Indore dated 09.07.2017 which is arising out of the order u/s 271(1)(c) of the Income Tax Act 1961(In short the 'Act') dated 31.05.2017 framed by ACIT-4(1), Bhopal. 2.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....4 declaring income of Rs. 15,31,266/-. Case selected for scrutiny through CASS followed by serving of statutory notices. Assessment completed u/s 143(3) of the Act on 25.11.2016 after making addition towards disallowance of transport expenses at Rs. 18,54,576/- thereby assessing the income at Rs. 33,85,842/-, 4. Penalty proceedings were initiated u/s 271(1)(c) of the Act for furnishing inaccura....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ted. 7. Per contra Ld. Departmental Representative supported the orders of both the lower authorities. 8. We have heard rival contentions and perused the records placed before us. Assessee's sole issue is against the levy of penalty at Rs. 5,73,064/- by the Ld. A.O and confirmed by Ld. CIT(A). This penalty was levied on disallowance of transport expenses on 18,54,576/-. 9. We find that as....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....uineness of the transport charges paid to M/s Kosar Transport Company by bringing any adverse material on record. Penalty u/s 271(1)(c) of the Act is levied for concealment of income or furnishing the inaccurate particulars of income. In the present case penalty has been levied by the Ld. A.O for furnishing the inaccurate particulars of income but nowhere from the assessment order or the penalty o....