2024 (6) TMI 1602

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....e Tax - 10(2)(2), Mumbai, u/s.  143(3) of the Income-tax Act, 1961 (hereinafter referred to as the "Act"), dated 21.03.2016 for AY 2013-14. 2. Grounds taken by the assessee are reproduced as under: 1. "On the facts and circumstances of the case, CIT (A) erred in confirming the Penalty levied u/s.  271(1)(c) of the Act of Rs. 1,52,084. 2. a) On the facts and circumstances of the case, the AO erred in leving the penalty though the AO has not specified under which limb, the penalty proceedings were initiated in the notice issued u/s. 271(1)(c) dated 30/03/2022. The penalty levied under such circumstances is bad in law. b) It is well settled law that the penalty proceeding Initiated without specifyin....

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....pellant further submits that several judicial pronouncements have held that bona fide mistakes do not constitute the concealment of Income." 3. In ground No. 1 and 2, assessee has contested that Ld. CIT (A) has passed an ex parte order and without dealing the appeal on merits ignoring the submissions and documents filed by the assessee in the course of assessment proceedings. Accordingly, we first deal with these two grounds taken by the assessee. 4. Brief facts are that assessee filed his return of income on 31.7.2030 reporting total income at nil. The return was revised on 31.03.2015 reporting total income at Rs. 1,18,90,340/-. During the course of assessment proceedings, assessee was called upon to furnish the details of unsec....

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....te proceedings. Aggrieved, assessee is in appeal before the tribunal challenging the approach adopted by Ld. CIT (A) passing an ex parte order and not considering the submissions which formed part of the assessment records. 6. Ld. counsel for the assessee submitted for remitting the matter back to the file of Ld. CIT (A) for de novo meritorious adjudication of the grounds taken by the assessee at the first appellate stage. 7. Per contra, Ld. Sr. DR submitted that assessee failed to substantiate his claim and therefore Ld. CIT (A) had no option but to dismiss the appeal ex parte. 8. We have heard the rival contentions and perused the material on record. From the assessment order, we note that assessee had made his submissions on the....