SHIVAJI LAXMAN SAHANE,NASHIK vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE - 1, NASHIK , NASHIK

ITA 1078/PUN/2024Status: DisposedITAT Pune21 April 2025Bench: DR.MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)1 pages
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What did the Tribunal hold?

The Tribunal held that the show cause notices issued for penalty proceedings did not specify the exact charge (inaccurate particulars or concealment of income), rendering the proceedings invalid. Relying on the jurisdictional High Court's decision in Mohd. Farhan A. Shaikh (supra), the penalty was quashed.

What were the facts?

The assessee, engaged in land trading, had declared income of Rs.4.71 crore for AY 2010-11. During assessment, income was increased to Rs.9.27 crore. Subsequently, penalty proceedings were initiated under Section 271(1)(c) for Rs.1.40 crore.

What were the issues?

Whether penalty proceedings initiated under Section 271(1)(c) are valid when the show cause notice does not specify the exact charge against the assessee (inaccurate particulars vs. concealment of income).

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 143(3),Section 274

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Income Tax Appellate Tribunal, PUNE BENCHES “B”, PUNE

Before: DR.MANISH BORAD & SHRI VINAY BHAMORE

For Appellant: Shri Pramod S.Shingte
For Respondent: Shri Arvind Desai
Hearing: 12.03.2025Pronounced: 21.04.2025

PER DR. MANISH BORAD, ACCOUNTANT MEMBER :

The captioned appeal at the instance of assessee pertaining to A.Y. 2010-11 is directed against the order dated 02.04.2024 framed by National Faceless Appeal Centre, Delhi which in turn is arising out of Penalty order dated 29.03.2016 passed u/s.271(1)(c) of the Act.

2.

Brief facts of the case are that the assessee is an individual and is engaged in the business of land trading and also partner in Sahane Constructions. Income of Rs.4.71 crore declared in the return for A.Y. 2010-11 furnished on 30.09.2010. Assessment u/s.143(3) of the Act was passed on 12.03.2013 making certain additions assessing the income at Rs.9.27 crore as a

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