2022 (1) TMI 734

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....firming the penalty u/s 271(1)(c) for Rs. 75100 out of Rs. 2,44,300/- imposed by the A.O." 3. The only effective ground in this appeal is against sustaining the penalty of Rs. 75,000/- out of Rs. 2,44,300/- imposed by the Assessing Officer (in short "the A.O".) 4. The facts in brief are that in this case return of income disclosing income at Rs. 1,05,53,330/- was filed on 29th September, 2012, the same was processed u/s 143 (1) of the Income Tax Act, 1961 (in short "the Act"). The case was selected for scrutiny and the assessment u/s 143(3) was framed vide order dated 27th March, 2015 thereby, the Assessing Officer assessed income at Rs. 1,18,31,749/- against the declared income of Rs. 1,05,53,330/. The Assessing Officer made disallow....

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....mitted that the assessee furnished inaccurate particulars of income by claiming allowance of such expenses that was not admissible under the law. 9. We have heard the rival submissions and perused the material available on record. The Ld.CIT (A) has contested by observing as under:- "The facts of the case along with material on record have been gone through. It is observed that addition in respect of interest on alleged NPAs for Rs. 329241/- has been made in the absence of supporting details. Disallowance of Rs. 103 5/- has been made u/s 43B on non-payment basis. Disallowance of Rs. 217246/- has been made for the gratuity contribution in the absence of the approval of the Principal CIT, Muzaffamagar for the gratuity fund. Such a....