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Income Tax Appellate Tribunal, JAIPUR BENCHES,”A-Bench” JAIPUR
Before: SHRI RATHOD KAMLESH JAYANTBHAI, AM & SHRI NARINDER KUMAR, JM vk;dj vihy la-@ITA. No. 558 & 559/JPR/2024
In view of the above discussion and findings, we are of the considered opinion that there is no illegality or irregularity in the assessment orders relating to the two assessment years under consideration i.e. 2013-14 and 2014-15, or in the impugned orders passed by Learned CIT(A). Consequently, both the appeals and as regards the quantum assessments are hereby dismissed. ITA No.572/JP/2024 and ITA No.573/JP/2024 39. First mentioned appeal been filed, while challenging order dated 29.02.2024 passed by the Learned CIT(A), Jaipur, whereby penalty order u/s 271AAB of the Act, has been upheld.
Vide penalty order, pertaining to the aforesaid assessment year i.e. AY 2013-14, the Assessing Officer levied penalty of Rs. 35,65,000/- ( i.e. @ of 30% of the abovementioned undisclosed income of Rs. 1,18,83,333/-).
559, 572 & 573/JPR/2024 Sh. Rajendra Agarwal As noticed above, the appeal filed qua the quantum assessment stands dismissed. In view of the above findings and having regard to the provisions of section 271AAB(1)(c) of the Act, no fault can be found with the penalty order. Consequently, this appeal is hereby dismissed. ITA No. 573/JPR/2024
As noticed above, vide assessment order dated 31.03.2016 under challenge by way of the Assessing Officer made addition of Rs. 25,00,000/-, while calculating total income of the assessment year 2014-15. As regards the said amount, the Assessing Officer also passed penalty order on the same date i.e. 26.03.2019 and levied penalty of Rs. 13,95,000/-, on the total undisclosed income of Rs. 46,50,000/- as per provisions of clause (c) of sub-section (1) of section 271AAB of the Act.
As noticed above, the appeal filed qua the quantum assessment stands dismissed. In view of the above findings and having regard to the provisions of section 271AAB(1)(c) of the Act, no fault can be found with the penalty order. Consequently, this appeal is also hereby dismissed.
559, 572 & 573/JPR/2024 Sh. Rajendra Agarwal 42. Copy of the common judgment be also placed in the connected appeal files, for record. 43. Appeal files be consigned to the record room, after the needful is done by the office.