2022 (11) TMI 458

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....dent by : Ms. Maimun Alam , Sr. DR ORDER PER SAKTIJIT DEY , JM : This is an appeal by the assessee against the order dated 29.12.2018 of learned Commissioner of Income Tax (Appeals)-3, Gurgaon, confirming penalty imposed under section 271AAA of the Income-tax Act, 1961 (in short 'the Act') for the assessment year 2013-14. 2. Briefly the facts are, the assessee is a resident individual.....

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....n account of unexplained cash of Rs.1 lakh. 3. Though, the assessee contested the additions before learned Commissioner (Appeals), however, they were sustained. Based on such addition, the Assessing Officer initiated proceeding for imposition of penalty under section 271AAA of the Act and ultimately passed an order imposing penalty of Rs.2,45,418/- under the said provision. The penalty imposed,....

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.... the materials on record, we find, penalty under section 271AAA of the Act was imposed based on the additions made in the assessment order, aggregating to Rs.24,54,184/-. However, while deciding assessee's quantum appeal, the Tribunal in ITA No. 839/Del/2017, dated 30.06.2022 has deleted addition of Rs. 1 lakh made on account of unexplained cash. Whereas, the addition made of Rs.23,54,184/- on acc....