DCIT, CHANDIGARH vs. SH. KULWANT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

14. In view of this, though, we are of the view that the legal plea taken by the assessee that the provisions of section 271(1)(c) of the Act are not attracted because the relevant provisions of section 271AAA were applicable, is not tenable, yet we are of the view that otherwise, the provisions of section 271

DCIT, CHANDIGARH vs. SMT. JASWANT KAUR, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

14. In view of this, though, we are of the view that the legal plea taken by the assessee that the provisions of section 271(1)(c) of the Act are not attracted because the relevant provisions of section 271AAA were applicable, is not tenable, yet we are of the view that otherwise, the provisions of section 271

DCIT, CHANDIGARH vs. SH. KULWANT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

14. In view of this, though, we are of the view that the legal plea taken by the assessee that the provisions of section 271(1)(c) of the Act are not attracted because the relevant provisions of section 271AAA were applicable, is not tenable, yet we are of the view that otherwise, the provisions of section 271

DCIT, CHANDIGARH vs. SMT. MANJIT KAUR, CHANDIGARH

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

14. In view of this, though, we are of the view that the legal plea taken by the assessee that the provisions of section 271(1)(c) of the Act are not attracted because the relevant provisions of section 271AAA were applicable, is not tenable, yet we are of the view that otherwise, the provisions of section 271

DCIT, CHANDIGARH vs. SH. PARAMJIT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

14. In view of this, though, we are of the view that the legal plea taken by the assessee that the provisions of section 271(1)(c) of the Act are not attracted because the relevant provisions of section 271AAA were applicable, is not tenable, yet we are of the view that otherwise, the provisions of section 271

SH. CHETAN JAIN,LUDHIANA vs. DCIT, LUDHIANA

In the result, the appeal of the assessee is dismissed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptash.Chetan Jain, Vs. The D.C.I.T., B-121, Pushap Vihar, Central Circle-Iii, Canal Road, Ludhiana. Ludhiana. Pan: Aaypj0618H (Appellant) (Respondent)

u/s 274 must specifically spell out the charge fixed on the assessee for the purpose of levy of penalty whether concealment or furnishing of inaccurate particulars of income by striking out the irrelevant clause in the notice. Para 59 of the order deals with the same and is being reproduced hereunder for reference: “NOTICE UNDER SECTION

SH. MUNISH JAIN,LUDHIANA vs. DCIT, LUDHIANA

In the result, both the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Ms. Annapurna Gupta

u/s 274 must specifically spell out the charge fixed on the assessee for the purpose of levy of penalty whether concealment or furnishing of inaccurate particulars of income by striking out the irrelevant clause in the notice. Para 59 of the order deals with the same and is being reproduced hereunder for reference: “NOTICE UNDER SECTION

SH. MUNISH JAIN,LUDHIANA vs. DCIT, LUDHIANA

In the result, both the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Ms. Annapurna Gupta

u/s 274 must specifically spell out the charge fixed on the assessee for the purpose of levy of penalty whether concealment or furnishing of inaccurate particulars of income by striking out the irrelevant clause in the notice. Para 59 of the order deals with the same and is being reproduced hereunder for reference: “NOTICE UNDER SECTION

DCIT, PARWANOO vs. M/S HYCRON ELECTRONICS, SOLAN

Appeal of the Revenue is dismissed and appeal of the assessee is allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

14,089 Sundry Credit balances written back 99 A further addition of Rs.5,55,241/- was made by disallowing the expense claimed against exempt income u/s 14A. Penalty proceedings u/s 271(1)(c) were also initiated w.r.t. all the above referred restriction in deduction claimed and disallowances made. The issues on which penalty levied is as under:- Amount of addition

HYCRON ELECTRONICS vs. DY.COMMISSIONER OF INCOME TAX,

Appeal of the Revenue is dismissed and appeal of the assessee is allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

14,089 Sundry Credit balances written back 99 A further addition of Rs.5,55,241/- was made by disallowing the expense claimed against exempt income u/s 14A. Penalty proceedings u/s 271(1)(c) were also initiated w.r.t. all the above referred restriction in deduction claimed and disallowances made. The issues on which penalty levied is as under:- Amount of addition

SH RAMESH KUMAR DUDANI,MOHALI vs. DCIT,CIRCLE -6(1), MOHALI

In the result, appeal of the Assessee is allowed

u/s 271(l)(c) has been levied on the addition of Rs. 81,072/- made under the head 'Income from Other Sources'. Further, reply to query no. 1 may be referred for the calculation of penalty. iii. Please provide the information whether any approval of the Addl. CIT/JCIT Mohali Range has been obtained before levy of penalty. Since penalty levied

M/S HAPPY STEEL PRIVATE LTD.,LUDHIANA vs. DCIT CC-2, LUDHIANA

In the result, the appeal is allowed

Bench: Shri A.D. Jain & Shri Krinwant Sahay

penalty u/s 271(l)(c) of the Act for the concealment of income or furnishing of inaccurate particulars of income. Except mentioning the section 271AAB of the Act in the notice, it does not talk anything about the provisions of section 271AAB. Therefore, certainly such notice has a fatal error and technically' is not a correct notice in the eyes

M/S BAJWA DEVELOPERS LTD.,KHARAR vs. DCIT, CC-II, CHANDIGARH

Bench: The Cit(A)(Central), Gurgaon. The Ld. Cit(A) Vide Order, Dated 26.04.2019 Sustained The Penalty Of Rs. 1,58,68,413/-, Against That Order, The Assessee Has Filed This Appeal Before The 2

section 271 AAA, the penalty @ 10% on undisclosed income of Rs. 1,25,16,413/- should have been imposed. It was further submitted that only 10% of the undisclosed income of Rs. 1,25,16,413/-, amounting to Rs. 12,51,641/-could be imposed as penalty. The Ld. CIT (A) vide order, dated 21.09. 2020, accordingly, restricted the penalty

ACIT,CC-1, CHANDIGARH vs. M/S BAJWA DEVELOPERS LTD., KHARAR

Bench: The Cit(A)(Central), Gurgaon. The Ld. Cit(A) Vide Order, Dated 26.04.2019 Sustained The Penalty Of Rs. 1,58,68,413/-, Against That Order, The Assessee Has Filed This Appeal Before The 2

section 271 AAA, the penalty @ 10% on undisclosed income of Rs. 1,25,16,413/- should have been imposed. It was further submitted that only 10% of the undisclosed income of Rs. 1,25,16,413/-, amounting to Rs. 12,51,641/-could be imposed as penalty. The Ld. CIT (A) vide order, dated 21.09. 2020, accordingly, restricted the penalty

ACIT-CC-1, CHANDIGARH vs. M/S BAJWA DEVELOPERS LTD., KHARAR

Bench: The Cit(A)(Central), Gurgaon. The Ld. Cit(A) Vide Order, Dated 26.04.2019 Sustained The Penalty Of Rs. 1,58,68,413/-, Against That Order, The Assessee Has Filed This Appeal Before The 2

section 271 AAA, the penalty @ 10% on undisclosed income of Rs. 1,25,16,413/- should have been imposed. It was further submitted that only 10% of the undisclosed income of Rs. 1,25,16,413/-, amounting to Rs. 12,51,641/-could be imposed as penalty. The Ld. CIT (A) vide order, dated 21.09. 2020, accordingly, restricted the penalty

THE KANGRA CENTRAL COOPERATIVE BANK LIMITED,DHARAMSHALA vs. DEPUTY COMMISSIONER OF INCOME TAX, PALAMPUR

In the result, both the appeals of the assessee are allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

Section 271(1)(c). That is clearly not the intendment of the Legislature.” 14. In light of aforesaid discussions and in the entirety of facts and circumstances of the case and respectfully following the decision supra, the levy of penalty u/s

M/S SEL TEXTILES LIMITED,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, theappeal of the assessee stands partly allowed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकरअपीलसं./Ita No.695/Chd/2018 धििागरणवर्ग / Assessment Year :2014-15 बिाम M/S Sel Textiles Limited, The Dcit, 273-74,G.T. Road, Central Circle-Iii, Dhandari Kalan, Ludhiana Ludhiana स्थायीलेखासं./Pan No: Aancs0401M अपीलाथी/Appellant प्रत्यथी/Respondent धििागररतीकीओरसे/Assessee By : Shri Ashwani Kumar, Ca राजस्वकीओरसे/ Revenue By : Sh. Ram Mohan, Cit Dr सुिवाईकीतारीख/Date Of Hearing : 28.01.2019 उदघोर्णाकीतारीख/Date Of Pronouncement : 18.04.2019 आदेश/Order Per Sanjay Garg:

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1). (3) The provisions of section 274 and 275 shall, as far as may be, apply in relation to the penalty referred to in this section. Explanation:--- For the purpose of this section,__ (a)……… (b)………. (c) "undisclosed income" means— (i) any income

SMT. SHWETA JAIN,LUDHIANA vs. DCIT, CC-1, LUDHIANA

In the result, all the above appeals of different assessees are partly allowed for statistical purposes

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1). (3) The provisions of section 274 and 275 shall, as far as may be, apply in relation to the penalty referred to in this section. Explanation:--- For the purpose of this section,__ (a)……… (b)………. (c) "undisclosed income" means— (i) any income