SUBRAMANIAM SANTHANAM,TIRUPUR vs. ITO, WARD-1(2), TIRUPUR
आयकर अपीलीय अिधकरण “ए” ायपीठ चेई म।
IN THE INCOME TAX APPELLATE TRIBUNAL
“A” BENCH, CHENNAI
माननीय ी एस. एस. िव ने रिव, ाियक सद! एवं
माननीय ी मनोज कुमार अ&वाल ,लेखा सद! के सम(।
BEFORE HON’BLE SHRI S.S. VISWANETHRA RAVI, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM
आयकरअपील सं./ ITA No.2568/Chny/2024
(िनधा)रण वष) / Assessment Year: 2013-14)
Shri Subramaniam Santhanam
29/50, Aishwaryam Garden,
1st Street, Near St.Paul’s School,
KNG Pudur Pirivu,
Coimbatore-641 025. बनाम
/ Vs.
ITO
Ward-1(2)
Tirupur.
थायीलेखासं./जीआइआरसं./PAN/GIR No. ASIPS-1371-C
(अपीलाथ /Appellant)
:
( थ / Respondent)
अपीलाथ कीओरसे/ Appellant by :
Shri T. Vasudevan (Advocate)- Ld.AR
थ कीओरसे/Respondent by :
Shri R. Raghupathy (Addl.CIT) - Ld. Sr. DR
सुनवाई की तारीख/Date of Hearing
:
18-12-2024
घोषणा की तारीख /Date of Pronouncement
:
02-01-2025
आदेश / O R D E R
Manoj Kumar Aggarwal (Accountant Member)
Aggrieved by confirmation of penalty u/s 271(1)(c) for Rs.77,639/- for Assessment Year (AY) 2013-14, the assessee is in further appeal before us. The impugned order has been passed by learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] on 14-08-2024 in the matter of penalty levied by Ld. Assessing Officer [AO] u/s. 271(1)(c) of the Act on 18-02- 2022. Having heard rival submissions, the appeal is disposed-off as 2
under.
2. It emerges that the assessee did not file return of income. However it deposited cash of Rs.74.59 Lacs in its bank accounts. The Ld. AO reopened the case of the assessee and estimated income of 8% on total deposit which came to Rs.7.26 Lacs. Consequently, impugned penalty was also levied by Ld. AO. The Ld. CIT(A) confirmed the same n the ground that the assessee failed to explain the sources of the same
Aggrieved, the assessee is in further appeal before us.
3. It clearly emerges that the fact of carrying out of business has been accepted by Ld. AO and income has been estimated u/s 44AD. In our considered opinion, penalty could not be levied on estimation of income.
It is not a fit case for levy of penalty. We order so.
4. The appeal stand allowed.
Order pronounced on 2nd January, 2025 (S. S. VISWANETHRA RAVI) (MANOJ KUMAR AGGARWAL)
ाियक सद! / JUDICIAL MEMBER लेखा सद! / ACCOUNTANT MEMBER
चे4ई Chennai; िदनांक Dated : 02-01-2025
DS
आदेशकीSितिलिपअ&ेिषत/Copy of the Order forwarded to :
1. अपीलाथ /Appellant
2. थ /Respondent
3. आयकरआयु=/CIT Coimbatore.
4. िवभागीय ितिनिध/DR
5. गाडBफाईल/GF