TaxTMI 
TaxTMI 
2025 (1) TMI 870
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....ailed to appreciate the scheme of assessment and penalty proceedings pertaining to search cases. The assessment u/s. 153A is an assessment pursuant to search and not a scrutiny assessment, hence restricted to issues emanating from incriminating material found during the search. The penalty proceedings pursuant to assessment u/s. 153A shall be limited to additions made in order u/s. 153A and cannot be extended to any other issues 2. The Ld. CIT(A) has erred in law and on facts of the case in upholding order u/s. 271BA which is purely based on change of opinion. Levy of penalty u/s.271BA is at the discretion of the Ld. AO and not automatic. The Ld. AO who completed the scrutiny assessment u/s.143(3) of the Act has consciously chosen not to ....
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....ically with a computer-generated DIN quoted in the body of the order is not fulfilled, thus rendering the order of CIT(A) non-est and bad in law. 7. Both the lower authorities have passed the orders without properly appreciating the facts and they further erred in grossly ignoring various submissions, explanations and information submitted by the appellant from time to time which ought to have been considered before passing the impugned order. The action of the lower authorities is in clear breach of law and Principles of Natural Justice and therefore deserves to be quashed. 8. The Appellant craves leave to add, amend, alter, edit, delete, modify or change all or any of the grounds of appeal at the time of or before the hearing of the a....
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.... Best Oasis Limited Company were considered as international transactions. In view of the above, the assessee company entered into international transactions as mentioned by the Assessing Officer and as per the provisions under Section 271BA of the Act, the international transactions made by the assessee with M/s Best Oasis Limited during the year under consideration should have been furnished as a report from an Accountant as required aby Section 92E of the Act. The Assessing Officer held that the assessee failed to furnish the same report regarding its international transactions and, therefore, initiated penalty proceedings under Section 271BA of the Act thereby issuing notice dated 23.03.2022. The assessee did not file any response and s....
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.... a technical default. Penalty is unwarranted in view of reasonable cause as per Section 273B of the Act. The assessee was under a bonafide impression and inadvertently due to oversight, audit report could not be filed in the previous year but post search when transfer pricing reference was made, the said fact was realised, by then, the date of furnishing form 3CEB electronically was already passed but the assessee filed the said form 3CEB physically before the Transfer Pricing Officer. 6. The Ld. DR submitted that the CIT(A) has rightly dismissed the appeal of the assessee as the assessee did not file the form 3CEB within the stipulated time. 7. We have heard both the parties and perused all the relevant material available on record. It i....