2022 (5) TMI 679

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....man , CA Respondent by : Shri G. Johnson , Addl. CIT ORDER PER V. DURGA RAO , JUDICIAL MEMBER : This appeal filed by the assessee is directed against the order of the ld. Commissioner of Income Tax (Appeals) 1, Madurai, dated 18.11.2019 relevant to the assessment year 2010-11 challenging the appellate order of confirming the levy of penalty under section 271(1)(c) of the Income Tax Act....

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....Dr. K. Velusamy, the assessee. The notice under section 153A of the Act was issued and served on 22.11.2012. In response to the notice, the assessee filed the return of income on 01.03.2013 admitting income of Rs.25,13,930/- and agricultural income of Rs..3,40,000/-. Thereafter, notice under section 143(2) and 142(2) of the Act were also issued. During the course of assessment proceedings, while c....

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....nder section 143(3) r.w.s. 153A of the Act on 24.03.2014. The assessee accepted the addition made by the Assessing Officer in view of the incriminating evidences which arose on comparison of the books of accounts. Accordingly, the Assessing Officer has initiated penalty proceedings under section 271(1)(c) of the Act. After considering the submissions of the assessee against the notice issued under....

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....2019, the assessee filed replies both on merits and legality which has not been considered in all its aspects by the ld. CIT(A) and prayed that the penalty of Rs..3,85,651/- levied under section 271(1)(c) of the Act and confirmed by the ld. CIT(A) may be deleted. 4. On the other hand, the ld. DR supported the orders of authorities below. 5. We have heard both the sides, perused the materials....