2023 (1) TMI 1266

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....Mukesh Jain, CA & Shri Samyak Jain, Advocate ORDER PER SHAMIM YAHYA, A.M.: This appeal by the Revenue is directed against the Order of the Ld. CIT(A)-8, New Delhi, dated 14.03.2019 and pertains to A.Y. 2015-16. 2. The grounds of appeal read as under:- "1. Whether on the facts and circumstances of the case and in law the ld.CIT(A) erred in deleting the penalty imposed u/s 271(1....

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....ssee's appeal, the ld.CIT(A) allowed the assessee's appeal on two counts: firstly he accepted the assesse's plea that relevant limb in the penalty notice has not been ticked off, hence, on jurisdictional aspect, the penalty is not sustainable. In this regard, the order of the ld.CIT(A) reads as under:- "4.1 The Ld. AR of appellant argued that while initiating the penalty proceeding u/s 27....

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....d would not satisfy requirement of law when the consequences on the assessee not rebutting initial presumption in serious nature and assessee had to pay penalty from 100% to 300% of tax liability. As the said provisions have to be held to be strictly construed, notice issued u/s 271 should satisfy the grounds which assessee has to meet specifically. Otherwise, principle of natural justice is offen....

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....whether penalty is being initiated for 'furnishing of inaccurate particulars of income or concealment of income' is fatal. It reflects non application of mind by AO & renders the levy of penalty invalid. Hence penalty cannot be imposed u/s 271(l)(c) of the Act." 3.1 Holding the penalty so levied as devoid of jurisdiction and invalid, the ld.CIT(A) further considered the merits of the ca....