TaxTMI 
TaxTMI 
2023 (4) TMI 569
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.... sub-grounds of the appeal are independent and without prejudice to the others. . Ground No.1: on the facts and in the circumstances of the case and in law, the order of the learned Commissioner of Income Tax (Appeals) is perverse in as much as it does not consider the ratios laid down in the case laws of the Income Tax Appellate Tribunal, Mumbai and that of the Apex court against the doctrine of 'stare decisis The Appellant prays that the addition of Rs. 42,21,154/-be deleted. Ground No.2: On the facts and in the circumstances of the case and in law, the order of the learned Commissioner of Income Tax (Appeals) is perverse in as much as it violates the principles of natural justice by not pr....
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.... Appellant prays that the, the appellant ought to given relief u/s 89 of the Act Ground No.6 On the facts and in the circumstances of the case, the Ld. AO has erred in initiating penalty proceedings under section 270A of the Act. It is prayed that the Ld. AO be directed to drop the penalty proceedings. GENERAL: The Appellant craves leave to odd, to amend, to alter and/ or to delete all or any of the above grounds of appeal." 2. The brief facts in this case are that the assessee has taken voluntary retirement from Racold Thermo Private Limited Pune during the year under consideration. Thereafter the assessee has started trading business of Industrial consumable supply in the name of M/s. Laxmi Enterpris....
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.... salary. All other payments made by an employer to an employee would be brought under the head "Profit in lieu of salary". This is a comprehensive provision by virtue of which all payments made by an employer to an employee whether made in pursuance of a legal obligation or voluntarily are brought under profit in lieu of salary." 4. A show cause notice was issued in this regard to the assessee and the assessee submitted his reply which was considered by the A.O. It was observed and held as under: "2.4 The reply submitted by the assessee is duly considered and it is not acceptable as the claim of assessee that this amount was received in appreciation of long and loyal service rendered and that it was casual and non-recurring rece....
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....d was voluntarily given by the employer had been issued to the assessee only after the case was taken up for scrutiny and notices u/s 143(2) and 143(1) were issued to the assessee. If the employer intended to treat the payment as voluntary 'ex-gratia' payment given out of sweet will as an appreciation of the employer the same letter would have been given at the time of voluntary retirement of the employee and no TDS would have been deducted on the said payment and also the payment would not have been included in form No. 16 given to the assessee by the employer. Further also, the letter was signed by Vice President (Human Resources) whereas Form No. 16 had been signed by the Asstt. General Manager of the company. Accordingly, the am....
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....ht to tax accordingly being defined inclusively as per the Act. The ld. A.O has invoked this provision and has brought to tax the disputed amount. The NFAC while upholding the addition has discussed that the amount received by the assessee is part and parcel of Form No. 16 issued to him and that the TDS has also been paid in respect of the said amount and that further the letter which was produced by the assessee was signed by Vice President (Human Resources) only surfaced once the scrutiny started and notices u/s 143(2) and 143(1) were issued to the assessee. On the other hand, it is contended by the assessee that the payment has been made voluntarily by the employer out of his own sweet will and not bound by any or condition by any legal ....