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Income Tax Appellate Tribunal, DELHI BENCH: ‘SMC-I’ NEW DELHI
Before: SMT DIVA SINGH
Date of Hearing 09.09.2015 Date of Pronouncement 23.09.2015 ORDER By the present appeal the assessee assails the correctness of the order dated 10.10.2013 of CIT(A)-XXXIII, New Delhi pertaining to 2008-09 assessment year wherein the penalty of Rs. 1,36,066/- imposed by the AO has been upheld by the CIT(A).
Various grounds have been raised by the assessee in the present appeal. However, reference thereto is being abstained from in view of the peculiar facts and circumstances of the case which are being referred to herein after. A perusal of the record shows that in the original return of income filed by the assessee on 26.07.2008 income of Rs.9,93,800/- was declared. The assessee alongwith Dawat Group of cases was subjected to search on 10.02.2009 u/s 132 of the Income Tax Act, 1961. Accordingly notice u/s 153A was issued on 07.10.2009 requiring the assessee to file its return of income for the year under consideration as it was one of the 6 assessment years preceding the assessment year relevant to the previous year in which the search was conducted. Pursuant to the notice u/s 153A and 142(1) alongwith questionnaire etc. the assessee declared an income of Rs.13,94,120/- which was accepted. As a result of this, penalty u/s I.T.A .No.-841/Del/2014