2022 (12) TMI 1346

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....in the total income was assessed at Rs.1,00,97,050/- as against returned income of Rs.4,280/-. The additions made in the aforesaid assessment order included addition amounting to Rs.3,52,990/- by way of Trading addition as (undisclosed profit on sales out of books) and addition amounting to Rs.97,39,780/- made u/s 69A of Income Tax Act. The assessee filed appeal in the office of the learned CIT(A). Vide appellate order dated 29/03/2016, the learned CIT(A) deleted the aforesaid amount of Rs.3,52,900/-. Further, out of the aforesaid amount of Rs.97,39,780/- partly the addition was confirmed and partly the addition was deleted. Separately, the Assessing Officer passed an order u/s 271(1)(c) of Income Tax Act, dated 22/03/2018 wherein he levied....

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.... 5. [No clear finding/satisfaction was recorded by AO regarding concealment of income or furnishing of inaccurate particulars. "Para 1 of the Penalty order dated 22/03/2018, read as under: "Penalty proceedings u/s 271(1)(c) were also initiated separately for concealment of furnishing inaccurate particulars of his income vide letter dated 24/03/2014". Page 5 of assessment order reads "I am satisfied that the assessee has furnished inaccurate particulars of income" Para 5 at last page of the penalty order reads "as a result thereof shall, for the purpose of clause (c) of this subsection be deemed to represent the income in respect of which particulars have been concealed". (A.1.1) At the time of hearing before us, the Ld. Authorized Re....

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....g Officer with the direction to pass fresh order in accordance with law after providing reasonable opportunity to the assessee. (A.2.1) We find that there was no representation from the assessee's side in the course of proceedings before the Assessing Officer and before us the learned CIT(A). As a result, we do not have the benefit of examination of the factual and legal submissions of the assessee side by the Assessing Officer and by the learned CIT(A). Further, we find that the learned AR of the assessee has expressed the grievance that reasonable opportunities were not provided by the learned CIT(A) and by the Assessing Officer which was not disputed by the learned Sr. DR for Revenue. In view of the foregoing; and in the specific facts ....