TaxTMI 
TaxTMI 
2025 (7) TMI 2019
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....Dharmesh Shah & Ms. Mitali Parekh For the Revenue : Shri Virabhadra S Mahajan, Sr. DR ORDER PER AMIT SHUKLA (J.M): The aforesaid appeal has been filed by the Revenue and Cross Objection by the assessee in the quantum of assessment passed u/s. 153A r.w.s. 143(3) for the A.Y. 2007-08. 2. The Revenue is aggrieved by deletion of penalty u/s. 271(1)(c) of Rs.16,29,627/- on account of dis....
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....eferred any appeal or contested the disallowance, therefore, penalty should be levied on such adhoc disallowance and that to be made in the order passed u/s. 153C when admittedly no incriminating material qua this disallowance found during the course of search. A search action u/s. 132 was carried out in the case of Temptation Foods Group on 24/09/2009 and assessee was issued notice 153C. 5. Th....
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....t the A.O. had jurisdiction to making addition only on the basis of any incriminating material found as a result of search even the assessment order do not reflect any incriminating mater based on which disallowance was made by the Ld. A.O. Thus, in a case where the disallowances itself are not valid, in my view, even the penalty could not be levied of such disallowance. 9.11. Under these....
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....ed assessment year. Secondly, these expenses have been duly shown in the profit and loss account and declared in the return of income and such details and information furnished alongwith return has neither been found to be incorrect or false. Nor explanation of the assessee has been found to be incorrect or false. Nowhere, the ld. AO in the assessment order has stated how these disallowances are j....