M/S. PARAS FINVEST PRIVATE LIMITED,KOLKATA vs. ITO, WARD - 12(1), KOLKATA, KOLKATA

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ITA 408/KOL/2018Status: DisposedITAT Kolkata26 December 2018AY 2012-132 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The tribunal held that the penalty notice did not specify the exact reason for initiating penal proceedings. Therefore, the penalty was directed to be deleted.

What were the facts?

The assessee challenged a penalty imposed for non-compliance with Section 143(2) and 142(1) notices during scrutiny assessment. The penalty was upheld by the CIT(A).

What were the issues?

Whether the penalty notice for non-compliance with statutory notices was valid without specifying the exact default.

Which sections of the Income-tax Act were involved?

Section 271(1)(b),Section 143(2),Section 142(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “D” KOLKATA

Before: Shri J.Sudhakar Reddy & Shri S.S.Godara

Shri Sunil Surana, Advocate अपीलाथ� क� ओर से/By Appellant Shri S. Halder, Sr. DR ��यथ� क� ओर से/By Respondent 19-12-2018 सुनवाई क� तार�ख/Date of Hearing 26-12-2018 घोषणा क� तार�ख/Date of Pronouncement आदेश /O R D E R PER S.S.Godara, Judicial Member:- This assessee’s appeal for assessment year 2012-13 arises against the Commissioner of Income Tax (Appeals)-4, Kolkata’s order dated 01.02.2018 passed in case No.1309/CIT(A)-4/Kol/W.12(1)/2015-16 upholding Assessing Officer’s action imposing penalty of ₹10,000/- involving proceedings 271(1)(b) of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file(s) perused.

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