Shri Om Prakash Modi, Jaipur vs. Deputy Commissioner of Income Tax, Jaipur
In the result, this appeal of the assessee is partly allowed
ITA 196/JPR/2018[2014-15]Status: DisposedITAT Jaipur18 Mar 2021AY 2014-15
Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 196/Jp/2018 Fu/Kzkj.K O"Kz@Assessment Year :2014-15 Shri Om Prakash Modi, Cuke D.C.I.T., Vs. B-49, Keshav Path, Suraj Nagar Central Circle-2, (West), Civil Lines, Jaipur. Jaipur. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Acfpm 8683 C Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri Manish Agarwal (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri Varinder Mehta (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 04/03/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 18/03/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Cit(A)-4, Jaipur Dated 01/01/2018 For The A.Y. 2014-15, Wherein The Assessee Has Raised Following Grounds Of Appeal: “1. On The Facts & In The Circumstances Of The Case The Ld. Cit(A) Has Grossly Erred In Confirming The Penalty U/S 271Aab Imposed At Rs. 3,75,00,000/-, Arbitrarily, Thus The Order So Passed Deserves To Be Quashed. 2. On The Facts & In The Circumstances Of The Case The Ld. Cit(A)Has Erred In Ignoring The Fact That The Appellant Has Duly Disclosed In The Statements U/S 132(4) & The Mode & Manner Was Also Explained, Further Due Tax Was Also Paid, Therefore, The Penalty Of Rs. 3,75,00,000/- So Levied Deserves To Be Deleted. 2.1 That The Ld. Cit(A) Has Grossly Erred In Confirming The Penalty Imposed On Additional Income Of Rs. 12,50,00,000/- Duly Offered
For Appellant: Shri Manish Agarwal (CA)For Respondent: Shri Varinder Mehta (CIT-DR)
Section 132(4)Section 271ASection 274
…t of tax so leviable", the first part of the section cannot be read as mandatory. Both CIT(A) and Tribunal have recorded reasons for exercise of their discretion in cancelling penalty which did not warrant interference. CIT vs. Dr. Giriraj Agarwal Giri (2012) 346 ITR 152 (Raj.)(HC)(case law compilation page 67-68) 17 ITA 196/JP/2018_ Sh. Om Prakash Modi Vs DCIT Imposition of penalty depends on facts and circumstances of each case. The AO imposed the penalty on so called three items of so called concealed income. Each item was examined, thoroughly and in detail, by the Commissioner of Income-Tax (Appeals) as well…
