SEWA STEEL PVT. LTD.,BHIWADI vs. ACIT, CIRCLE-2, ALWAR

ORDER PER: SANDEEP GOSAIN, JM This appeal filed by the assessee is directed against order of the ld. CIT(A), Alwar dated 14-05-2019 for the assessment year 2013-14 wherein the assessee has raised the following grounds of appeal. ‘’1. That the ld. CIT(A) grossly erred in confirming the order of the AO on addition of Rs.1,02,293/- sustained on account of investment subsidy treating it as employment generation subsidy u/s 250 in quantum.

2. That the ld. CIT(A) grossly erred in not adjudication on penalty attributable on the estimate 2.1 None appeared on behalf of the assessee when the case was called out for hearing. However, the Bench decided to proceed in the matter as per the documents available on record and heard the arguments of the ld. DR, ex-parte. 2.2 The Bench noted in this case that the solitary issue raised is against the imposition of penalty of Rs.74,603/- u/s 271(1)© of the Act which has been confirmed by the ld. CIT(A) by observing as under:- ‘’5.3 I have gone through the penalty order as well as submissions made by the appellant. The quantum proceedings has been decided and the AO has imposed penalty u/s 271(1) (c ) of the Act on the sustained part of the addition made on the ground of employment generation subsidy and investment subsidy. The appellant has also not gone into further appeal. I have considered the submission made by the appellant. In my considered view, the AO is justified in imposing penalty of Rs.74,603/- u/s 271(1)( c ) of the Act on concealment of particulars of income. The appellant’s ground of appeal on the issue is dismissed.

6. In the result, the appeal is dismissed.’’ 2.3 The Bench heard the ld. DR and considered the documents made available by the assessee concerning the issue in question. In this case, it is noted that the assessee was provided numerous opportunities to contest its case but no controverting reply from the side of the assessee was received. In this view of the 3 M/S SEWA STEELS PVT LTD. VS ACIT, CIRCLE-2, ALWAR matter, the Bench has no other alternative except to sustain the order of the ld. CIT(A). Thus the appeal of the assessee is dismissed. In the result, the appeal filed by the assessee is dismissed 3.0 Order pronounced in the open court on 18/10/2022.

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