Dilip N. Shroff v. JCIT

ACIT, Central Circle-2(3), Kolkata vs. Shri Ramautar Grourisaria, Kolkata

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

…ck, cash etc were found during the search operation) in order to buy peace of mind and avoid an further litigation. The assessee has brought on ITA No.214, 153, 223-226/Kol/2017 & 11 COs A.Y. 2013-14 Page 7 record the case law of Dilip N Shroff vs CIT (2007) 291 ITR 519 (SC). In this case law the Hon'ble Supreme Court has held that imposition of penalty is not automatic. Levy of penalty is not only discretionary in nature, but such discretion is required to be exercised on the part of the Assessing Officer keeping the relevant factors in mind. The AR has also brought on record the case of Punjab Tyres Punjab Tyr…

ACIT, Central Circle - 2(3), Kolkata vs. Dilip Kumar Modi, Kolkata

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

…made to purchase peace or for other similar reason, surrender cannot amount to admission, constituting evidence of concealment in penalty proceedings. I also rely on the judgement of the Supreme Court of India in the case of Dilip N. Shroff vs. Jt. CIT [2007] 291 ITR 519 (SC) wherein it was held that imposition of penalty is not automatic. Levy of penalty is not only discretionary in nature, but such discretion is required to be exercised on the part of the Assessing Officer, keeping the relevant factors in mind. In this regard, I would like to state that assessment has been completed based on the explanations gi…

DCIT, Central Circle - 2(2), Kolkata vs. M/S. Rashmi Cement Ltd., Kolkata

Appeal is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.1606/Kol/2017 ("नधा"रण वष" / Assessment Year: 2013-14) Dcit, Central Circle-2(2), Vs. Rashmi Cement Ltd. Kolkata 39, Shakespeare Sarani, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcr 4343 R (Appellant) .. (Respondent) Appellant By : Shri Radhey Shyam, Cit-Dr Respondent By : Shri A. K. Tulsiyan, Fca सुनवाईक"तार"ख/ Date Of Hearing : 21/02/2019 घोषणाक"तार"ख/Date Of Pronouncement : 28/02/2019 आदेश / O R D E R Per Shri S. S. Godara: This Revenue’S Appeal For Assessment Year 2013-14 Arises Against The Commissioner Of Income Tax(A)-20, Kolkata Dated 13.04.2017 Passed In Case No.1119/Cc2(2)/Cit(A)/15-16 Reversing Assessing Officer’S Action Imposing Penalty Of Rs.3,09,69,700/- In His Order Dated 30.09.2015 U/S 271Aab Of The Income Tax Act, 1961 (In Short ‘The Act’). Heard Both The Parties. Case File Perused. 2. We Notice At The Time Of Hearing That This Revenue’S Appeal Suffers From Four Days Delay In Filing. It Filed Condonation Petition 06.07.2017 Describing Reasons Thereof To Various Procedural Formalities At Departmental Level. Learned Counsel Representing Assessee Is Very Fair In Not Disputing The Said Solemn Averments. We Therefore Condone The Impugned Four Days Delay In Filing Of Revenue’S Instant Appeal As Neither Intentional Nor Deliberate.

…iminating evidence, papers/documents/stock/cash (except Rs.3,03,000/-) etc were found during the search operation) in order to buy peace of mind and avoid any further litigation. The assessee has brought on record the case law of Dilip N Shroff vs. CIT (2007) 291 ITR 519 (SC). In this case law the Hon’ble Supreme Court has held that imposition of penalty is not automatic. Levy of penalty is not only discretionary in nature, but such discretion is required to be exercised on the part of the Assessing Officer keeping the relevant factors in mind. The AR has also brought on record the case of Punjab Tyres (Punjba) T…