TaxTMI 
TaxTMI 
2025 (6) TMI 975
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....ance from the side of the assessee. When the name of the assessee was called today, neither anybody appeared nor there was any application for adjournment. Under these circumstances, we deem it proper to dispose of this appeal based on the material available on record and after hearing the Ld. DR. 3. Facts of the case, in brief, are that the assessee is a partnership firm carrying on the business of running a hotel with restaurant, lodging and banquet hall under its umbrella. It filed its original return of income on 11.10.2017 declaring total income of Rs. 3,07,370/-. Subsequently, a survey u/s 133A of the Act was conducted on 24.01.2019 against the assessee during which certain documents were impounded. Some registers impounded by the ....
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....der to reduce the taxable income and the additional income of Rs. 5,06,267/- declared by the assessee in its return filed in response to notice u/s 148 of the Act is taxable as business income. Since the assessee failed to record certain cash receipts in its books of account, penalty proceedings u/s 270A of the Act were initiated by the Ld. CIT(A). The assessee in response to the same filed the reply. However, the Ld. CIT(A) was not satisfied with the arguments advanced by the assessee and levied the penalty of Rs. 3,12,880/- being 200% of tax payable on underreported income in consequence of misreporting by recording as under: "6.1 In the present case, while completing the assessment u/s 143(3) of the Act, the Assessing Officer in....
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....tage of an appeal. At the assessment stage, the Assessing Officer has to issue notice to the assessee to show cause as to why penalty should not be levied and this notice has to be issued in the course of assessment proceedings. Thereafter, the imposition of penalty has also to be done by the Assessing Officer within prescribed time. Where the penalty proceedings are initiated during the course of appeal or revision proceedings, the authority who has to be satisfied is the authority in whose proceedings, the issue is examined and not any other authority. Further, levy of penalty has also to be done by the same authority, but by different proceedings. The Hon'ble High Court very clearly held the authority in whose proceedings, there is s....
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....was of the Commissioner (Appeals). Therefore, levy of penalty u/s 270A of the Act corresponding to this income can be done by the Commissioner (Appeals) only. Therefore, the penalty u/s 270A corresponding to the income of Rs. 5,06,267/- being levied by this office. As far as, the penalty proceedings u/s 270A of the Act, initiated by the AO on another addition, while completing the assessment is concerned, the AO can separately decide about the same. 7.1 The facts of the present case are that the original return of income for AY 2017-18 was filed on 11/10/2017 by declaring total income of Rs. 3,07,370/-. Thereafter a survey was conducted on 24/01/2019 wherein it was found that the appellant was suppressing its business rece....
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.... 8.2 The decisions of Hon'ble Tribunal Ahmedabad Bench in ITA no. 205/AHD/2022, shall not be applicable because as mentioned by the appellant, in that case the surrendered income was shown in the regular income tax return. On the other hand, in the present case, the additional income is shown only in the return filed in response to notice u/s. 148 of the Act. 8.3 The appellant has further relied on the decision of Hon'ble Delhi High Court in the case of Schneider Electric South East Asia (HQ) PTE Ltd. vs. ACIT in WPC 5111/2022. However, this will also not be applicable to the facts of the present case because specific limb "under- reporting of income in consequence of misreporting is clearly mentioned in the order u/s. 25....