SUBBALAKSHMI KURADA ,BANGALORE vs. DEPUTY COMMISSONER OF INCOME TAX, CIRCLE-3(1)(2) , BANGALORE

In the result, the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year : 2016-17

penalty proceedings u/s. 271(1)(c) was initiated for furnishing the inaccurate particulars. The assessee filed their detailed reply and submitted that the entire rental income was declared in the return including the hire charges received on amenities but the hire charges received on amenities were provided under the head income from business. Insofar as the long term capital gains

SMT B SUMATHY,BANGALORE vs. THE INCOME TAX OFFICER WARD-1(2)(2), BANGALORE

In the result, the assessee’s appeal for Assessment Year 2005-06 is allowed as indicated above

Bench: Shri N. V. Vasudevan & Shri Jason P Boazassessment Year : 2005-06 Smt. B. Sumathy, Vs. The Income Tax Officer, #T-401, Poorva Park, Ward – 1(2), Now Jeevana Halli Main Road, Ito, Ward – 1[2][2], Cox Town, Bangalore-560 005. Bangalore. Pan : Aseps 7079 K Appellant Respondent Assessee By : Shri. Narendra Sharma, Advocate Revenue By : Shri. T. Chandrasekhar, Addl. Cit Date Of Hearing : 27.03.2019 Date Of Pronouncement : 16.04.2019

capital gains by virtue of denying the assessee’s claim for exemption under section 54F of the Act. 3.2 Penalty proceedings under section 271(1)(c) of the Act was initiated simultaneously vide notice under section 274 r.w.s. 271(1)(c) of the Act of even date viz., 26.03.2007 in respect of the aforesaid addition. After considering the assessee

EPSILON ADVISORS P. LTD.,,BANGALORE vs. CIT, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

penalty u/s 271 (1) (c) of I. T. Act for A. Y. 2006 – 07 and remaining two appeals are also cross appeals filed by the assessee and revenue in quantum proceedings for the same year i.e. A. Y. 2006 – 07. All these appeals were heard together and are being disposed of by this common order for the sake of convenience

DCIT, BANGALORE vs. M/S EPSILON ADVISORS PVT. LTD.,, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

penalty u/s 271 (1) (c) of I. T. Act for A. Y. 2006 – 07 and remaining two appeals are also cross appeals filed by the assessee and revenue in quantum proceedings for the same year i.e. A. Y. 2006 – 07. All these appeals were heard together and are being disposed of by this common order for the sake of convenience

EPSILON ADVISORS P. LTD.,,BANGALORE vs. CIT, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

penalty u/s 271 (1) (c) of I. T. Act for A. Y. 2006 – 07 and remaining two appeals are also cross appeals filed by the assessee and revenue in quantum proceedings for the same year i.e. A. Y. 2006 – 07. All these appeals were heard together and are being disposed of by this common order for the sake of convenience

DCIT, BANGALORE vs. M/S EPSILON ADVISORS PVT. LTD.,, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

penalty u/s 271 (1) (c) of I. T. Act for A. Y. 2006 – 07 and remaining two appeals are also cross appeals filed by the assessee and revenue in quantum proceedings for the same year i.e. A. Y. 2006 – 07. All these appeals were heard together and are being disposed of by this common order for the sake of convenience

DCIT vs. M/S MINITECHS AEROTOOLS PVT. LTD.,,

In the result, the appeal by the Revenue is dismissed

Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2007-08

gain brought to tax in the reassessment proceedings and addition to business income by disallowance of labour charges, the AO initiated penalty proceedings u/s. 271(1)(c) of the Act against the assessee. In the penalty proceedings, the AO held that but for the survey in the case of VBDPL, the capital

MS.DIVYA S RAO ,MYSORE vs. THE INCOME TAX OFFICER WARD-1(4), MYSORE

In the result appeals filed by assessee stands allowed

Bench: Shri. B.R. Baskaran & Smt. Beena Pillai

capital gains Page 7 of 13 ITA No.2384 to 2387/Bang/2018 at Rs.6,55,000/-. Ld.AO, subsequently initiated proceedings u/s 271(1)(c), 271(1)(b) for non compliance of notice, and 271F for not filing Return of income. 4. Aggrieved by the addition, assessee preferred appeal before Ld.CIT(A). Assessee also filed appeals before Ld.CIT(A) against penalty

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3(1), HUBBALLI vs. SHRI SADASHIVAYYA S SOPPIMATH , HUBBALI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri N.V Vasudevan, Vice Presidnet & Shri B.R Baskaranassessment Year : 2013-14

penalty u/s 271(c) are stated in brief: The assessee is an individual and is a Doctor. He filed his return of income declaring a total income of Rs.23.74 lakhs. During the course of asst. proceedings the assessee submitted to the AO that he has earned long term capital gains

MR K. P. MANJUNATHA REDDY,BANGALORE vs. THE INCOME TAX OFFICER, WARD 4(3)(2), BANGALORE

In the result, the appeal filed by the assessee is allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2014-15

penalty proceedings u/s 271(1)(c) of the Act. 10. The appellant submits that each of the above grounds is independent and without prejudice to one another. 2. Facts of the case are that the A.O. made addition of Rs.2.06 crores as long term capital gain

RAHIL MAHESHKUMAR NIZAMUDDIN,BANGALORE vs. ACIT, INTL TAXATION CIRCLE 1(2), BLR, BANGALORE

Bench: Shri Chandra Poojari & Shri Keshav Dubeyassessment Year: 2014-15

Capital gains and Other Sources. The said return was subjected to scrutiny assessment proceedings and the assessment order u/s 143(3) r.w.s 144C was passed on 29/12/2016 with assessed income as Rs 39,62,64,341/- resulting in a demand of Rs. 9,77,46,662/-. Also, Penalty proceedings were initiated by issuing a notice u/s 274 rws 271

SIMPLEX TMC PVT LTD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1),BENGALURU, BENGALURU

In the result, the appeal of the assessee is allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2018-19

Capital Gains. The AO further held that as the assessee had not offered the amount of Rs. 5,00,000/- as income, the undisclosed income is covered by provision of clause(b) Simplex TMC Pvt. Ltd., Bangalore Page 4 of 17 of Section 271AAB(1A) of the Act and accordingly a penalty

IBM UNITED KINGDOM LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX , INTERNATIONAL TAXATION-CIRCLE-1(2), BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

271(1)(c) of the Act (i.e, whether for concealment of income or for furnishing of inaccurate particulars) was not discernible from the penalty orders. 4.4.3 With respect to penalty levied under section 270A (AY 2017-18 to AY 2019-20) of the Act, the following specific submissions / contentions were made before the CIT(A): a) Substantiating the ‘bonafide’ intention

IBM ISRAEL LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX , INTERNATIONAL TAXATION-CIRCLE-1(2) , BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

271(1)(c) of the Act (i.e, whether for concealment of income or for furnishing of inaccurate particulars) was not discernible from the penalty orders. 4.4.3 With respect to penalty levied under section 270A (AY 2017-18 to AY 2019-20) of the Act, the following specific submissions / contentions were made before the CIT(A): a) Substantiating the ‘bonafide’ intention

IBM CORPORATION,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, INTERNATIONAL TAXATION, CIRCLE-1(2)(1) , BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

271(1)(c) of the Act (i.e, whether for concealment of income or for furnishing of inaccurate particulars) was not discernible from the penalty orders. 4.4.3 With respect to penalty levied under section 270A (AY 2017-18 to AY 2019-20) of the Act, the following specific submissions / contentions were made before the CIT(A): a) Substantiating the ‘bonafide’ intention

IBM CORPORATION,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, INTERNATIONAL TAXATION-CIRCLE-1(2) , BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

271(1)(c) of the Act (i.e, whether for concealment of income or for furnishing of inaccurate particulars) was not discernible from the penalty orders. 4.4.3 With respect to penalty levied under section 270A (AY 2017-18 to AY 2019-20) of the Act, the following specific submissions / contentions were made before the CIT(A): a) Substantiating the ‘bonafide’ intention

TECNOTREE CONVERGENCE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(1), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2009-10

capital gains". Therefore, the quantum proceeding was concluded against the assessee. The Assessing Officer levied penalty under Section 271(1)(c) of the Act. The Hon'ble jurisdictional High Court held that it was not the case of the department that the assessee withheld any information or furnished any false information. The Page 9 of 13 facts necessary for carrying

OIKOS APARTMENTS PVT LTD,BANGALORE vs. COMMISSIONER OF INCOME TAX, (APPEAL)-5, BANGALORE

In the result, the appeal filed by the assessee is allowed

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

u/s 271(1)(c) of the I.T.Act for the enhancement made by him in the quantum assessment (i.e. penalty was imposed on quantum enhancement of Rs.2 crore). The CIT(A) imposed penalty of Rs.57,29,893 being 100% of tax sought to be evaded. The relevant finding of the CIT(A) in imposing penalty of Rs.57,29,893 reads