2021 (9) TMI 1179

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....financial institutions. Assessee filed her return of income for A.Y. 2015-16 on 27.10.2015 declaring total income of Rs. 14,25,300/-. The case was selected for scrutiny under the CASS. Notices u/s 143(2) & 142(1) of the Act was issued from time to time. In response to these notices Learned Counsel for the assessee attended the proceedings and filed detailed as called for from time to time. Thereafter assessment was framed u/s 143(3) of the Act vide order dated 30.12.2017 and the total income of the assessee was determined at Rs. 24,52,374/-. On the addition of Rs. 10,27,074/- made, AO vide order dated 27.06.2018 levied the penalty of Rs. 3,17,366/- u/s 271(1)(c) of the Act. 4. Aggrieved by the penalty order of AO, assessee carried the ma....

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....nishing the inaccurate particulars of income thus the penalty is bad in law and deserves to be deleted. 4. That the appellant craves leave to alter, amend, add or delete all or any ground of this appeal. That the above grounds of appeal are without prejudice to each other. That the appellant reserves its right to add, alter, amend or withdraw any ground of appeal either before or at the time of hearing of this appeal." 5. On the date of hearing none appeared on behalf of the assessee though the notice of hearing was issued to the assessee. The case file further reveals that on earlier occasions also, the matter was adjourned on account of non-appearance of assessee or her Counsel. In view of the aforesaid and i....