2022 (6) TMI 233

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....d 30.12.2016 for the assessment years 2013-14 & 2014-15. As the issues involved in the captioned appeals are inextricably interlinked or in fact interwoven, therefore, the same are being taken up and disposed off together by way of a common order. We shall first take up the appeal filed by the assessee for the assessment year 2013-14 wherein the assessee has assailed the impugned order on the following grounds of appeal before us: "1. In the facts and circumstances of the case and in law, the learned Assessing Officer is not justified in imposing penalty of Rs. 31,730/- u/s.271(1)(c) of the Income-tax Act, 1961. 2. The impugned order is bad in law and on facts. Additional Ground:- 3. In the facts and circ....

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....y, the A.O vide his order passed u/s. 271(1)(c), dated 30.12.2016 imposed a penalty of Rs.31,730/- on the assessee for both the defaults contemplated in the aforesaid statutory provision i.e., 'concealment of income' and 'furnishing of inaccurate particulars of income'. 4. Aggrieved the assessee carried the matter in appeal before the CIT(Appeals) but without any success. 5. The assessee being aggrieved with the order of the CIT(Appeals) has carried the matter in appeal before us. 6. We have heard the ld. authorized representatives of both the parties, perused the orders of the lower authorities and the material available on record, as well as considered the judicial pronouncements that have been pressed into service by the ld. AR ....

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....2016, had initiated penalty proceedings u/s.271(1)(c) alleging that the assessee had concealed his income, however, the same, thereafter, had been imposed by him vide his order passed u/s.271(1)(c) of the Act dated 30.12.2016 for both the defaults i.e. 'concealment of income' and 'furnishing of inaccurate particulars of income. In our considered view, as both the defaults i.e. 'concealment of income' and 'furnishing of inaccurate particulars of income' are separate and distinct default which operates in their exclusive fields, therefore, imposition of penalty by the A.O qua the aforesaid solitary addition for both of the aforesaid defaults contemplated in Section 271(1)(c) of the Act cannot not be sustained and is liable to be struck down o....