2025 (8) TMI 354

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....Shri Rignesh Das, Sr. DR ORDER PER SHRI NARENDRA PRASAD SINHA, AM: This appeal is filed by the assessee against the order of the National Faceless Appeal Centre (NFAC), Delhi, (in short 'the CIT(A)'), dated 30.09.2024 for the Assessment Year 2017-18 in the matter of penalty under Section 270A of the Income Tax Act, 1961 (in short 'the Act'). 2. The brief facts of the case are t....

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....ssee had filed an appeal before the First Appellate Authority, which was decided vide the impugned order and the appeal of the assessee was dismissed. 4. Now, the assessee is in second appeal before us. The following grounds have been taken by the assessee in this appeal: "1. Learned Commissioner (Appeals) erred in confirming penalty of Rs. 4,32,915/- under Section 270A of the income Tax Act. ....

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....s. The Ld. AR further submitted that the claim for depreciation was otherwise also allowable in subsequent years and, therefore, there was no intention of the assessee to claim any excess or additional depreciation. As regarding third issue of addition of Rs. 1,67,740/- in respect of penalty charges, the Ld. AR explained that the assessee was engaged in the business of executing contracts for powe....

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....initiating the penalty proceeding in respect of this addition. In the show cause notice also for the penalty as issued by the AO, no mention of penalty in respect of addition of Rs. 24,38,562/- in respect of belated payment of EPF & ESI is mentioned. Therefore, the penalty imposed in respect of this addition is liable to be quashed. 8. As regards the addition of Rs. 1,95,737/- in respect of addit....