ACIT CENTRAL CIRCLE 1(1), CHENNAI vs. GHISULAI KOTHARI, CHENNAI

Appeal stands partly allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

10 crores, but has not substantiated the manner in which the income has been earned and also has not filed a valid return of income by paying the tax on the admitted income – 271AAB. You are hereby requested to appear before me at 11:30 AM on 26/05/2015 and show cause why an order imposing a penalty on you should

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI,

37,500/- offered pursuant to a\nstatement recorded during survey in the case of M/s. Life Line\nAuto Finance; and (ii) the balance sum of Rs.2,96,51,400/-\nvoluntarily offered by the assessee, unconnected with any\nincriminating material. Thus, it was submitted that the disclosure\nwas not attributable to any incriminating material found during\nsearch, and consequently Explanation

ST. JOSEPHS INSTITUTE OF SCIENCE AND TECHNOLOGY TRUST,CHENNAI vs. DCOT. CENTRAL CIRCLE-1(3), CHENNAI

In the result, all the appeals filed by the assessees are allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

10%-30%. which does not match the 60% penalty levied here. The AO's intent to invoke Section 271AAB(1A) is evident from the penalty rate. b. Section 292B Cures the Defect • Section 292B of the Income Tax Act states that no notice shall be deemed invalid due to a mistake or defect if it is in substance and effect

ST.JOSEPHS EDUCATIONAL TRUST,CHENNAI vs. DCIT, CENTRAL CIRCLE-193), CHENNAI

In the result, all the appeals filed by the assessees are allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

10%-30%. which does not match the 60% penalty levied here. The AO's intent to invoke Section 271AAB(1A) is evident from the penalty rate. b. Section 292B Cures the Defect • Section 292B of the Income Tax Act states that no notice shall be deemed invalid due to a mistake or defect if it is in substance and effect

GAYATHRI DEVI VYAS, D.SRINIVAS VYAS MANOHAR VYAS VIJAY SHRI LEGAL HEIRS OF LATE SHRI DURGA DAS VYAS,CHENNAI vs. ITO NON CORPORATE WARD 12(5), CHENNAI

In the result, all the appeals filed by both the assessees are dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2691 & 2692/Chny/2018 िनधा"रण वष"/Assessment Years:2001-02 & 2002-03 Shri D. Srinivas Vyas, Vs. The Income Tax Officer, No. 1, D Block, Eashwaran Koil Non Corporate Ward 12(5), Street, West Mambalam, Chennai. Chennai 600 033. [Pan:Abvpv4760G] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos. 2693, 2694, 2695, 2696, 2697 & 2698/Chny/2018 िनधा"रण वष"/Assessment Years:1998-99, 99-2000, 2000-01, 2001-02, 2002-03 & 2003-04 Gayathri Devi Vyas, D. Srinivas Vyas, Vs. The Income Tax Officer, Manohar Vyas, Vijay Shri, Legal Heirs Non Corporate Ward 12(5), Of Late Shri Durga Das Vyas, No. 1, D Chennai. Block, Eashwaran Koil Street, West Mambalam, Chennai 600 033. [Pan:Adapv2591C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate & Ms. N.V. Lakshmi, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 23.11.2022 घोषणा की तारीख /Date Of Pronouncement : 30.11.2022 आदेश /O R D E R Per V. Durga Rao: These Appeals Filed By The Two Different Assessees Are Directed Against The Respective Orders Of The Ld. Commissioner Of Income Tax

u/s 154 30.03.2009 NA CIT Appeal Order dated From ITA Nos. 08 to 13/09-10 29.05.2009 ITA Nos. 126 & 125/08-09 31.03.2009 Consequential order on Receipt of CIT Appeal Order 30.06.2009 16.06.2009 Initial Penalty Orders should have been passed by 31.03.2011 31.03.2011 ITAT Order dated 14.11.2011 14.11.2011 Penalty Order passed on 29.06.2012 29.06.2012 29 I.T.A. No.2691 & 2692/Chny/18 & 2693 to 2698/Chny/18 Commissioner appeal

GAYATHRI DEVI VYAS, D.SRINIVAS VYAS MANOHAR VYAS VIJAY SHRI LEGAL HEIRS OF LATE SHRI DURGA DAS VYAS,CHENNAI vs. ITO NON CORPORATE WARD 12(5), CHENNAI

In the result, all the appeals filed by both the assessees are dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2691 & 2692/Chny/2018 िनधा"रण वष"/Assessment Years:2001-02 & 2002-03 Shri D. Srinivas Vyas, Vs. The Income Tax Officer, No. 1, D Block, Eashwaran Koil Non Corporate Ward 12(5), Street, West Mambalam, Chennai. Chennai 600 033. [Pan:Abvpv4760G] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos. 2693, 2694, 2695, 2696, 2697 & 2698/Chny/2018 िनधा"रण वष"/Assessment Years:1998-99, 99-2000, 2000-01, 2001-02, 2002-03 & 2003-04 Gayathri Devi Vyas, D. Srinivas Vyas, Vs. The Income Tax Officer, Manohar Vyas, Vijay Shri, Legal Heirs Non Corporate Ward 12(5), Of Late Shri Durga Das Vyas, No. 1, D Chennai. Block, Eashwaran Koil Street, West Mambalam, Chennai 600 033. [Pan:Adapv2591C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate & Ms. N.V. Lakshmi, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 23.11.2022 घोषणा की तारीख /Date Of Pronouncement : 30.11.2022 आदेश /O R D E R Per V. Durga Rao: These Appeals Filed By The Two Different Assessees Are Directed Against The Respective Orders Of The Ld. Commissioner Of Income Tax

u/s 154 30.03.2009 NA CIT Appeal Order dated From ITA Nos. 08 to 13/09-10 29.05.2009 ITA Nos. 126 & 125/08-09 31.03.2009 Consequential order on Receipt of CIT Appeal Order 30.06.2009 16.06.2009 Initial Penalty Orders should have been passed by 31.03.2011 31.03.2011 ITAT Order dated 14.11.2011 14.11.2011 Penalty Order passed on 29.06.2012 29.06.2012 29 I.T.A. No.2691 & 2692/Chny/18 & 2693 to 2698/Chny/18 Commissioner appeal

GAYATHRI DEVI VYAS, D.SRINIVAS VYAS MANOHAR VYAS VIJAY SHRI LEGAL HEIRS OF LATE SHRI DURGA DAS VYAS,CHENNAI vs. ITO NON CORPORATE WARD 12(5), CHENNAI

In the result, all the appeals filed by both the assessees are dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2691 & 2692/Chny/2018 िनधा"रण वष"/Assessment Years:2001-02 & 2002-03 Shri D. Srinivas Vyas, Vs. The Income Tax Officer, No. 1, D Block, Eashwaran Koil Non Corporate Ward 12(5), Street, West Mambalam, Chennai. Chennai 600 033. [Pan:Abvpv4760G] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos. 2693, 2694, 2695, 2696, 2697 & 2698/Chny/2018 िनधा"रण वष"/Assessment Years:1998-99, 99-2000, 2000-01, 2001-02, 2002-03 & 2003-04 Gayathri Devi Vyas, D. Srinivas Vyas, Vs. The Income Tax Officer, Manohar Vyas, Vijay Shri, Legal Heirs Non Corporate Ward 12(5), Of Late Shri Durga Das Vyas, No. 1, D Chennai. Block, Eashwaran Koil Street, West Mambalam, Chennai 600 033. [Pan:Adapv2591C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate & Ms. N.V. Lakshmi, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 23.11.2022 घोषणा की तारीख /Date Of Pronouncement : 30.11.2022 आदेश /O R D E R Per V. Durga Rao: These Appeals Filed By The Two Different Assessees Are Directed Against The Respective Orders Of The Ld. Commissioner Of Income Tax

u/s 154 30.03.2009 NA CIT Appeal Order dated From ITA Nos. 08 to 13/09-10 29.05.2009 ITA Nos. 126 & 125/08-09 31.03.2009 Consequential order on Receipt of CIT Appeal Order 30.06.2009 16.06.2009 Initial Penalty Orders should have been passed by 31.03.2011 31.03.2011 ITAT Order dated 14.11.2011 14.11.2011 Penalty Order passed on 29.06.2012 29.06.2012 29 I.T.A. No.2691 & 2692/Chny/18 & 2693 to 2698/Chny/18 Commissioner appeal

GAYATHRI DEVI VYAS, D.SRINIVAS VYAS MANOHAR VYAS VIJAY SHRI LEGAL HEIRS OF LATE SHRI DURGA DAS VYAS,CHENNAI vs. ITO NON CORPORATE WARD 12(5), CHENNAI

In the result, all the appeals filed by both the assessees are dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2691 & 2692/Chny/2018 िनधा"रण वष"/Assessment Years:2001-02 & 2002-03 Shri D. Srinivas Vyas, Vs. The Income Tax Officer, No. 1, D Block, Eashwaran Koil Non Corporate Ward 12(5), Street, West Mambalam, Chennai. Chennai 600 033. [Pan:Abvpv4760G] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos. 2693, 2694, 2695, 2696, 2697 & 2698/Chny/2018 िनधा"रण वष"/Assessment Years:1998-99, 99-2000, 2000-01, 2001-02, 2002-03 & 2003-04 Gayathri Devi Vyas, D. Srinivas Vyas, Vs. The Income Tax Officer, Manohar Vyas, Vijay Shri, Legal Heirs Non Corporate Ward 12(5), Of Late Shri Durga Das Vyas, No. 1, D Chennai. Block, Eashwaran Koil Street, West Mambalam, Chennai 600 033. [Pan:Adapv2591C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate & Ms. N.V. Lakshmi, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 23.11.2022 घोषणा की तारीख /Date Of Pronouncement : 30.11.2022 आदेश /O R D E R Per V. Durga Rao: These Appeals Filed By The Two Different Assessees Are Directed Against The Respective Orders Of The Ld. Commissioner Of Income Tax

u/s 154 30.03.2009 NA CIT Appeal Order dated From ITA Nos. 08 to 13/09-10 29.05.2009 ITA Nos. 126 & 125/08-09 31.03.2009 Consequential order on Receipt of CIT Appeal Order 30.06.2009 16.06.2009 Initial Penalty Orders should have been passed by 31.03.2011 31.03.2011 ITAT Order dated 14.11.2011 14.11.2011 Penalty Order passed on 29.06.2012 29.06.2012 29 I.T.A. No.2691 & 2692/Chny/18 & 2693 to 2698/Chny/18 Commissioner appeal

GAYATHRI DEVI VYAS, D.SRINIVAS VYAS MANOHAR VYAS VIJAY SHRI LEGAL HEIRS OF LATE SHRI DURGA DAS VYAS,CHENNAI vs. ITO NON CORPORATE WARD 12(5), CHENNAI

In the result, all the appeals filed by both the assessees are dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2691 & 2692/Chny/2018 िनधा"रण वष"/Assessment Years:2001-02 & 2002-03 Shri D. Srinivas Vyas, Vs. The Income Tax Officer, No. 1, D Block, Eashwaran Koil Non Corporate Ward 12(5), Street, West Mambalam, Chennai. Chennai 600 033. [Pan:Abvpv4760G] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos. 2693, 2694, 2695, 2696, 2697 & 2698/Chny/2018 िनधा"रण वष"/Assessment Years:1998-99, 99-2000, 2000-01, 2001-02, 2002-03 & 2003-04 Gayathri Devi Vyas, D. Srinivas Vyas, Vs. The Income Tax Officer, Manohar Vyas, Vijay Shri, Legal Heirs Non Corporate Ward 12(5), Of Late Shri Durga Das Vyas, No. 1, D Chennai. Block, Eashwaran Koil Street, West Mambalam, Chennai 600 033. [Pan:Adapv2591C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate & Ms. N.V. Lakshmi, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 23.11.2022 घोषणा की तारीख /Date Of Pronouncement : 30.11.2022 आदेश /O R D E R Per V. Durga Rao: These Appeals Filed By The Two Different Assessees Are Directed Against The Respective Orders Of The Ld. Commissioner Of Income Tax

u/s 154 30.03.2009 NA CIT Appeal Order dated From ITA Nos. 08 to 13/09-10 29.05.2009 ITA Nos. 126 & 125/08-09 31.03.2009 Consequential order on Receipt of CIT Appeal Order 30.06.2009 16.06.2009 Initial Penalty Orders should have been passed by 31.03.2011 31.03.2011 ITAT Order dated 14.11.2011 14.11.2011 Penalty Order passed on 29.06.2012 29.06.2012 29 I.T.A. No.2691 & 2692/Chny/18 & 2693 to 2698/Chny/18 Commissioner appeal

D.SRINIVAS VYAS,CHENNAI vs. ITO NON CORPORATE WARD 12(5), CHENNAI

In the result, all the appeals filed by both the assessees are dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2691 & 2692/Chny/2018 िनधा"रण वष"/Assessment Years:2001-02 & 2002-03 Shri D. Srinivas Vyas, Vs. The Income Tax Officer, No. 1, D Block, Eashwaran Koil Non Corporate Ward 12(5), Street, West Mambalam, Chennai. Chennai 600 033. [Pan:Abvpv4760G] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos. 2693, 2694, 2695, 2696, 2697 & 2698/Chny/2018 िनधा"रण वष"/Assessment Years:1998-99, 99-2000, 2000-01, 2001-02, 2002-03 & 2003-04 Gayathri Devi Vyas, D. Srinivas Vyas, Vs. The Income Tax Officer, Manohar Vyas, Vijay Shri, Legal Heirs Non Corporate Ward 12(5), Of Late Shri Durga Das Vyas, No. 1, D Chennai. Block, Eashwaran Koil Street, West Mambalam, Chennai 600 033. [Pan:Adapv2591C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate & Ms. N.V. Lakshmi, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 23.11.2022 घोषणा की तारीख /Date Of Pronouncement : 30.11.2022 आदेश /O R D E R Per V. Durga Rao: These Appeals Filed By The Two Different Assessees Are Directed Against The Respective Orders Of The Ld. Commissioner Of Income Tax

u/s 154 30.03.2009 NA CIT Appeal Order dated From ITA Nos. 08 to 13/09-10 29.05.2009 ITA Nos. 126 & 125/08-09 31.03.2009 Consequential order on Receipt of CIT Appeal Order 30.06.2009 16.06.2009 Initial Penalty Orders should have been passed by 31.03.2011 31.03.2011 ITAT Order dated 14.11.2011 14.11.2011 Penalty Order passed on 29.06.2012 29.06.2012 29 I.T.A. No.2691 & 2692/Chny/18 & 2693 to 2698/Chny/18 Commissioner appeal

D.SRINIVAS VYAS,CHENNAI vs. ITO NON CORPORATE WARD 12(5), CHENNAI

In the result, all the appeals filed by both the assessees are dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2691 & 2692/Chny/2018 िनधा"रण वष"/Assessment Years:2001-02 & 2002-03 Shri D. Srinivas Vyas, Vs. The Income Tax Officer, No. 1, D Block, Eashwaran Koil Non Corporate Ward 12(5), Street, West Mambalam, Chennai. Chennai 600 033. [Pan:Abvpv4760G] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos. 2693, 2694, 2695, 2696, 2697 & 2698/Chny/2018 िनधा"रण वष"/Assessment Years:1998-99, 99-2000, 2000-01, 2001-02, 2002-03 & 2003-04 Gayathri Devi Vyas, D. Srinivas Vyas, Vs. The Income Tax Officer, Manohar Vyas, Vijay Shri, Legal Heirs Non Corporate Ward 12(5), Of Late Shri Durga Das Vyas, No. 1, D Chennai. Block, Eashwaran Koil Street, West Mambalam, Chennai 600 033. [Pan:Adapv2591C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate & Ms. N.V. Lakshmi, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 23.11.2022 घोषणा की तारीख /Date Of Pronouncement : 30.11.2022 आदेश /O R D E R Per V. Durga Rao: These Appeals Filed By The Two Different Assessees Are Directed Against The Respective Orders Of The Ld. Commissioner Of Income Tax

u/s 154 30.03.2009 NA CIT Appeal Order dated From ITA Nos. 08 to 13/09-10 29.05.2009 ITA Nos. 126 & 125/08-09 31.03.2009 Consequential order on Receipt of CIT Appeal Order 30.06.2009 16.06.2009 Initial Penalty Orders should have been passed by 31.03.2011 31.03.2011 ITAT Order dated 14.11.2011 14.11.2011 Penalty Order passed on 29.06.2012 29.06.2012 29 I.T.A. No.2691 & 2692/Chny/18 & 2693 to 2698/Chny/18 Commissioner appeal

GAYATHRI DEVI VYAS, D.SRINIVAS VYAS MANOHAR VYAS VIJAY SHRI LEGAL HEIRS OF LATE SHRI DURGA DAS VYAS,CHENNAI vs. ITO NON CORPORATE WARD 12(5), CHENNAI

In the result, all the appeals filed by both the assessees are dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2691 & 2692/Chny/2018 िनधा"रण वष"/Assessment Years:2001-02 & 2002-03 Shri D. Srinivas Vyas, Vs. The Income Tax Officer, No. 1, D Block, Eashwaran Koil Non Corporate Ward 12(5), Street, West Mambalam, Chennai. Chennai 600 033. [Pan:Abvpv4760G] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos. 2693, 2694, 2695, 2696, 2697 & 2698/Chny/2018 िनधा"रण वष"/Assessment Years:1998-99, 99-2000, 2000-01, 2001-02, 2002-03 & 2003-04 Gayathri Devi Vyas, D. Srinivas Vyas, Vs. The Income Tax Officer, Manohar Vyas, Vijay Shri, Legal Heirs Non Corporate Ward 12(5), Of Late Shri Durga Das Vyas, No. 1, D Chennai. Block, Eashwaran Koil Street, West Mambalam, Chennai 600 033. [Pan:Adapv2591C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate & Ms. N.V. Lakshmi, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 23.11.2022 घोषणा की तारीख /Date Of Pronouncement : 30.11.2022 आदेश /O R D E R Per V. Durga Rao: These Appeals Filed By The Two Different Assessees Are Directed Against The Respective Orders Of The Ld. Commissioner Of Income Tax

u/s 154 30.03.2009 NA CIT Appeal Order dated From ITA Nos. 08 to 13/09-10 29.05.2009 ITA Nos. 126 & 125/08-09 31.03.2009 Consequential order on Receipt of CIT Appeal Order 30.06.2009 16.06.2009 Initial Penalty Orders should have been passed by 31.03.2011 31.03.2011 ITAT Order dated 14.11.2011 14.11.2011 Penalty Order passed on 29.06.2012 29.06.2012 29 I.T.A. No.2691 & 2692/Chny/18 & 2693 to 2698/Chny/18 Commissioner appeal

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI

In the result, all the six appeals of the Revenue are\ndismissed

37,500/- offered pursuant to a\nstatement recorded during survey in the case of M/s. Life Line\nAuto Finance; and (ii) the balance sum of Rs.2,96,51,400/-\nvoluntarily offered by the assessee, unconnected with any\nincriminating material. Thus, it was submitted that the disclosure\nwas not attributable to any incriminating material found during\nsearch, and consequently Explanation

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, THIRUVANNAMALAI

37,500/- offered pursuant to a\nstatement recorded during survey in the case of M/s. Life Line\nAuto Finance; and (ii) the balance sum of Rs.2,96,51,400/-\nvoluntarily offered by the assessee, unconnected with any\nincriminating material. Thus, it was submitted that the disclosure\nwas not attributable to any incriminating material found during\nsearch, and consequently Explanation

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI

37,500/- offered pursuant to a\nstatement recorded during survey in the case of M/s. Life Line\nAuto Finance; and (ii) the balance sum of Rs.2,96,51,400/-\nvoluntarily offered by the assessee, unconnected with any\nincriminating material. Thus, it was submitted that the disclosure\nwas not attributable to any incriminating material found during\nsearch, and consequently Explanation

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, CHENNAI

In the result, all the six appeals of the Revenue are\ndismissed

37,500/- offered pursuant to a\nstatement recorded during survey in the case of M/s. Life Line\nAuto Finance; and (ii) the balance sum of Rs.2,96,51,400/-\nvoluntarily offered by the assessee, unconnected with any\nincriminating material. Thus, it was submitted that the disclosure\nwas not attributable to any incriminating material found during\nsearch, and consequently Explanation

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, THIRUVANNAMALAI

In the result, all the six appeals of the Revenue are\ndismissed

37,500/- offered pursuant to a\nstatement recorded during survey in the case of M/s. Life Line\nAuto Finance; and (ii) the balance sum of Rs.2,96,51,400/-\nvoluntarily offered by the assessee, unconnected with any\nincriminating material. Thus, it was submitted that the disclosure\nwas not attributable to any incriminating material found during\nsearch, and consequently Explanation

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT CC4(2), CHENNAI

The appeals stand allowed on similar lines

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

u/s 274 r.w.s 271 was a vague notice in a printed form without specifying the exact charge for which the assessee was being penalized and therefore, it was a clear case of non-application of mind while initiating penalty against the assessee. The Ld. AO, while initiating the penalty was not clear as to specific limb which was applicable