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Income Tax Appellate Tribunal, “A” BENCH, PUNE
Before: SHRI R.S. SYAL & SHRI S.S. VISWANETHRA RAVI
आदेश / ORDER
PER S.S. VISWANETHRA RAVI, JM :
This appeal by the Revenue against the order dated 22-03-2018 passed by the Commissioner of Income Tax (Appeals)-3, Pune [„CIT(A)‟] for assessment year 2013-14.
We find no representation on behalf of the assessee nor any application filed seeking adjournment. Thus, the assessee called absent and set ex-parte. Therefore, we proceed to dispose of the appeal by hearing the ld. DR and perusing the material available on record.
The Revenue raised three grounds of appeal amongst which the only issue is to be decided is as to whether the CIT(A) is justified in deleting the penalty imposed by the AO u/s. 271(1)(c) of the Act in the facts and circumstances of the case.
4. Heard ld. DR and perused the material available on record. We note that the assessee is a firm engaged in the construction business as promoters and builders. A survey was conducted u/s. 133A of the Act in assessee‟s group on 11-10-2012. The assessee offered Rs.1,94,00,000/- as unaccounted money and disclosed the said income by adding it to the regular income. Accordingly, the assessee filed return of income declaring a total income of Rs.2,56,00,000/-. The AO completed the assessment u/s. 143(3) of the Act accepting the same. At the same time, the AO initiated penalty proceedings u/s. 271(1)(c) of the Act under the charge of concealment of income and imposed penalty of Rs.59,94,600/- in respect of the amount which was admitted during the course of survey. The CIT(A) vide Para No. 3.4 of the impugned order held when return of income including the admitted unaccounted additional income accepted by the AO, no penalty lies. It is a settled principle when the AO accepts return of income making no addition, no penalty lies in such circumstances. We find the CIT(A) by placing reliance on judicial pronouncements rightly cancelled the penalty imposed by the AO u/s. 271(1)(c) of the Act.
Therefore, we do not find any infirmity in the order of CIT(A) and it is justified. Thus, the grounds raised by the Revenue are dismissed.
In the result, the appeal of Revenue is dismissed.
Order pronounced in the open court on 20th January, 2022.
Sd/- Sd/- (R.S. Syal) (S.S. Viswanethra Ravi) VICE PRESIDENT JUDICIAL MEMBER ऩुणे / Pune; ददनाांक / Dated : 20th January, 2022. रवव आदेश की प्रनिलऱपप अग्रेपषि / Copy of the Order forwarded to : अऩीऱाथी / The Appellant. 1. प्रत्यथी / The Respondent. 2. 3. The CIT(A)-3, Pune 4. The Pr. CIT-2, Pune ववभागीय प्रतततनधध, आयकर अऩीऱीय अधधकरण, “ए” बेंच, 5. ऩुणे / DR, ITAT, “A” Bench, Pune. गार्ड फ़ाइऱ / Guard File. 6. //सत्यावऩत प्रतत// True Copy// आदेशानुसार / BY ORDER,
वररष्ठ तनजी सधचव / Sr. Private Secretary आयकर अऩीऱीय अधधकरण ,ऩुणे / ITAT, Pune