2024 (8) TMI 1179

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....ty proceedings are separate, despite the submission that quantum appeal is pending. Without checking the proper facts of case, assigning proper reasons, justification and adjudication. The learned CIT Appeal dismissed the appeal. Where, in the quantum appeal, the addition was deleted vide CIT appeal order dated on 10.05.2024. There are various judicial pronouncement do confirm that no penalty us 271(1)(c) can be levied when the quantum addition is deleted. 2. Ld. CIT(A) has erred in dismissing the appeal filed on 30.04.2024 ignoring the ground taken by the appellant that the AO has levied penalty on incorrect facts i.e. although Form 35 was attached with the submission but the form 35 was not visible. It was technical matter but when the ....

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....y, the assessee has filed the return of income on 28.03.2021 and the assessee has filed the details of acquisition of the property and in respect of cash deposits, the A.O has made addition of Rs. 6,58,000/- and assessed the total income of Rs. 6,58,000/- and passed the order u/sec 147 r.w.s 144B of the Act dated 16.09.2021. 3. Subsequently, the A.O. has initiated penalty proceedings u/sec 271(1)(c) of the Act and has levied penalty of Rs. 2,03,332/- vide order dated 03.01.2022. 4. Aggrieved by the penalty order, the assessee has filed an appeal before the CIT(A), whereas the CIT(A) considered the grounds of appeal, submissions of the assessee and findings of the AO but has confirmed the levy of penalty u/s 271(1)(c) of the Act and dismis....

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....ng reasons, u/s 147 of the IT Act, notice u/s 148 of the IT Act was issued to the assessee on 19.03.2020 and served on the assessee electronically. Apart from this notice, various notices were issued to the assessee to furnish necessary documents and written submission. The AO specifically vide notices dated 01.01.2021, 07.01.2021, 17.08.2021, 24.03.2021, 02.07.2021 and 29.07.2021 asked the assessee to submit reply alongwith the supporting documents in respect of the source of cash deposited into the bank accounts maintained with the HDFC Bank. The assessee failed to submit any supporting documents. Finally, the AO issued show cause notice to the assessee in the form of draft assessment order vide which an opportunity was given to the asses....