2023 (5) TMI 352

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....ER PER G. D. PADMAHSHALI, AM; By the present appeal the assessee challenges the first appellate order of National Faceless Appeal Centre, Delhi [for short "CIT(A)/NFAC"] dt. 14/11/2022 passed u/s 250 of the Income-tax Act, 1961 [for short "the Act"] upholding the order of penalty dt. 01/01/2022 passed u/s 271(1)(c) of the Act, by National Faceless Assessment Centre [for short "AO"] for the asses....

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....ed the assessee his action of initiating the penalty proceedings u/s 271(1)(c) of Act for 'under reporting / mis-reporting' of income however by the impugned order has ended up levying penalty u/s 271(1)(c) for 'furnishing inaccurate particulars of income', which found perfunctory sustained by the Ld. CIT(A). 5. Excusing from reproduction of provision of section 271(1)(c) in verbatim, it shall be....

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....s recorded his satisfaction for 'under reporting / mis-reporting' of income and de-facto initiated penalty proceedings u/s 271(1)(c) of Act, this per-se sufficient to demonstrate his non-application of mind while recording satisfaction vis-à-vis initiation of penal proceedings. 7. In the light of undisputed facts and aforestated deliberation, we are of the considered view that the necessit....