Sri Rajan R Srinivasan, Bangalore vs. Assistant Commissioner of Income Tax Circle-1(2)(1), Bangalore
In the result, the assessee’s appeals for Assessment Year
ITA 521/BANG/2019[2006-07]Status: DisposedITAT Bangalore17 Jul 2019AY 2006-07
Bench: Shri N.V. Vasudevan & Shri Jason P Boazshri Rajan R Srinivasan, No.2965, 12Th Main, Hal 2Nd Stage, Indiranagar, Bengaluru-560008. … Appellant Pan:Afsps 7509F Vs. Asst. Commissioner Of Incomet-Ax, Circle 1(2)(1), Bengaluru. … Respondent Appellant By : Shri Bairav Kuttaiah, Advocate. Respondent By : Shri Vikas Suryavamshi, Addl.Cit(Dr) Date Of Hearing: 10/07/2019 Date Of Pronouncement: 17/07/2019 O R D E R Per N.V. Vasudevan, Vp: This Is An Appeal By The Assessee Against The Order Dated 16/01/2009 Of The Cit(Appeals)-2, Bengaluru, Relating To Assessment Year 2006-07. 2. In This Appeal, Th Assessee Has Challenged The Order Of The Cit(Appeals) Wherein The Cit(Appeals) Confirmed The Order Of The Ao Imposing Penalty On The Assessee U/S 271(1)(C) Of The Income- Tax Act,1961 ['The Act' For Short]. The Facts & Circumstances Of The Case Under Which The Penalty U/S 271(1)(C) Of The Act Was Imposed On The Assessee By The Ao Are As Follows: The Assessee Is An Individual Deriving Income Under The Head ‘Salary’ From M/S. Indus Biotech Pvt. Ltd., Pune Besides Income From Business. The Ao Concluded The Assessment U/S 143(3) Of The Act, For The Assessment Year 2006-07. The Assessee Claimed As Expenditure Incurred In Connection With Business Of The Assessee A Page 2 Of 10 Sum Of Rs.8,57,872/-. These Expenses Were Disallowed By The Ao For The Reason That They Were Purely Personal In Nature & The Assessee Could Not Establish The Nexus Of Those Expenses With The Business Of The Assessee. In Respect Of Addition Made As Aforesaid, Penalty Proceedings Were Initiated & Levied On The Assessee For Concealing Particulars Of Income & Furnishing Inaccurate Particulars Of Income.
For Appellant: Shri Bairav Kuttaiah, AdvocateFor Respondent: Shri Vikas Suryavamshi, Addl.CIT(DR)
Section 143(3)Section 148Section 271(1)(c)Section 274Section 292B
…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BENGALURU BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT and SHRI JASON P BOAZ, ACCOUNTANT MEMBER Shri Rajan R Srinivasan, No.2965, 12th Main, HAL 2nd Stage, Indiranagar, Bengaluru-560008. … Appellant PAN:AFSPS 7509F Vs. Asst. Commissioner of Incomet-ax, Circle 1(2)(1), Bengaluru. … Respondent Appellant by : Shri Bairav Kuttaiah, Advocate. Respondent by : Shri Vikas Suryavamshi, Addl.CIT(DR) Date of hearing: 10/07/2019 Date of pronouncement: 17/07/2019 O R D E R Per N.V. VASUDEVAN, VP: This is an appeal by the assessee against the order dated 16/01/2009 of the CIT(Appe…
