NARENDRA C. MAHER INDL,CHENNAI vs. DCIT, CHENNAI

In the result, the appeals filed by the assessees in ITA

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

penalty of (a)10% if the taxpayer admits the undisclosed income u/s 132(4) ; substantiates the manner of earning such undisclosed income and files return of income before the specified date and pays tax;(b) (a)20% if the taxpayer does not admit undisclosed income u/s 132(4); discloses such undisclosed income and files return of income within

M/S.ENRICA ENTERPRISES PVT LTD,CHENNAI vs. DCIT,CENTRAL CIRCLE-3(4), CHENNAI

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha. G & Shri Manomohan Das

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

M/S ENRICA ENTERPRISES PVT LTD,CHENNAI vs. DCIT,CENTRAL CIRCLE-3(4), CHENNAI

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha. G & Shri Manomohan Das

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

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

5 & #6: NO UNDISCLOSED INCOME IN THE CASE OF THE APPELLANT 1. The Ld. AO erred in levying penalty u/s 271AAB of the Act where there is no undisclosed income in the case of the appellant. 2. The Ld. AO erred in concluding that the appellant is found to have undisclosed income without taking cognizance of the fact that

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

5 & #6: NO UNDISCLOSED INCOME IN THE CASE OF THE APPELLANT 1. The Ld. AO erred in levying penalty u/s 271AAB of the Act where there is no undisclosed income in the case of the appellant. 2. The Ld. AO erred in concluding that the appellant is found to have undisclosed income without taking cognizance of the fact that

ST. JOSHEPHS INSTITUTE OF SCIENCE AND TECHNOLOGY TRUST,CHENNAI vs. DCIT, CENTRAL CIRCLE-193), CHENNAI

5 & #6: NON-DISCLOSURE OF UNDISCLOSED INCOME IN THE CASE\nOF THE APPELLANT\n1. The Ld. AO erred in levying penalty u/s 271AAB of the Act where there is no\nundisclosed income in the case of the appellant.\n2. The Ld. AO erred in concluding that the appellant is found to have\nundisclosed income without taking cognizance of the fact

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

5 ::\nITA Nos.3293 & 3294/Chny/2024\n(AYs 2018-19 & 2020-21)\nSt. Joseph's Educational Trust\n&\nITA Nos.3295 to 3297/Chny/2024\n(AYS 2018-19 to 2020-21)\nSt. Joseph's Institute of Science &\nTechnology Trust\nmanually on 23.09.2021 and paid tax on it on 29.07.2020 viz., on the\namount of shortfall in the application of funds to the extent

ROMAA HOUSING PRIVATE LIMITED,CHENNAI vs. ITO, CHENNAI

In the result, appeals filed by the assessee for both the assessment

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1345 To 1346 & 1347/Chny/2024 िनधा"रण वष"/Assessment Years: 2018-19 & 2019-20 V. M/S.Romaa Housing Pvt. Ltd., The Addl.Cit, No.1/107 & 108, Agr Tower, Central Range-3, P.H.Road Nerkundram, Chennai. Chennai-600 107. [Pan: Aaecr 6992 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

u/s 271D/E, he AO had no satisfaction to Initiate any penalty. 3.1 In this regard, reliance is placed on the decision of the Special Bench of the ITAT, Chandigarh Bench in 98 ITD 200. The relevant portion of the decision is extracted below: "21. Another factor that deserves consideration is the requirement of recording of satisfaction in the course

ROMAA HOUSING PRIVATE LIMITED,CHENNAI vs. ITO, CHENNAI

In the result, appeals filed by the assessee for both the assessment

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1345 To 1346 & 1347/Chny/2024 िनधा"रण वष"/Assessment Years: 2018-19 & 2019-20 V. M/S.Romaa Housing Pvt. Ltd., The Addl.Cit, No.1/107 & 108, Agr Tower, Central Range-3, P.H.Road Nerkundram, Chennai. Chennai-600 107. [Pan: Aaecr 6992 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

u/s 271D/E, he AO had no satisfaction to Initiate any penalty. 3.1 In this regard, reliance is placed on the decision of the Special Bench of the ITAT, Chandigarh Bench in 98 ITD 200. The relevant portion of the decision is extracted below: "21. Another factor that deserves consideration is the requirement of recording of satisfaction in the course

ROMAA HOUSING PRIVATE LIMITED,CHENNAI vs. ITO, CHENNAI

In the result, appeals filed by the assessee for both the assessment

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1345 To 1346 & 1347/Chny/2024 िनधा"रण वष"/Assessment Years: 2018-19 & 2019-20 V. M/S.Romaa Housing Pvt. Ltd., The Addl.Cit, No.1/107 & 108, Agr Tower, Central Range-3, P.H.Road Nerkundram, Chennai. Chennai-600 107. [Pan: Aaecr 6992 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

u/s 271D/E, he AO had no satisfaction to Initiate any penalty. 3.1 In this regard, reliance is placed on the decision of the Special Bench of the ITAT, Chandigarh Bench in 98 ITD 200. The relevant portion of the decision is extracted below: "21. Another factor that deserves consideration is the requirement of recording of satisfaction in the course

MANGAL & MANGAL,TRICHY vs. ACIT, TRICHY

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 2207/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14

5. The CIT (Appeals) failed to appreciate that the presumption of undisclosed profit on account of undervaluation of stock was wholly unjustified and factually not correct while vitiating the penalty imposed in relation thereto. 6. The CIT (Appeals) erred in sustaining the levy of penalty for the other addition on the presumed excess stock of jewellery without assigning proper reasons

PRESIDENCY KID LEATHER PVT. LTD.,CHENNAI vs. DCIT, CHENNAI

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

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A. No. 765/Chny/2017 िनधा"रण वष"/Assessment Year:2013-14 Presidency Kid Leather Pvt. Ltd., The Deputy Commissioner Of 21, Spartan Nagar, 1St Floor, Vs. Income Tax, Mogappair East, Chennai 600 037. Corporate Circle 5(2), [Pan:Aaacp1952D] Chennai 34. (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri D. Anand, Advocate ""थ" की ओर से/Respondent By : Shri Abani Kanta Nayak, Cit सुनवाई की तारीख/ Date Of Hearing : 16.03.2021 घोषणा की तारीख /Date Of Pronouncement : 19.04.2021 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 3, Chennai, Dated 31.01.2017 Relevant To The Assessment Year 2013-14 Challenging The Appellate Order Of Confirming The Levy Of Penalty Under Section 271(1)(C) Of The Income Tax Act, 1961 [“Act” In Short].

43,63,543/-. The assessment was completed under section 143(3) of the Act, by assessing the loss at ₹.49,82,53,477/- after making various disallowances. Accordingly, the Assessing Officer initiated penalty proceedings by issuing notice under section 274 r.w.s. 271(1)(c) of the Act. After considering the submissions to the above notice, the Assessing Officer levied penalty

M/S ENRIA ENTERPRISES PVT. LTD,CHENNAI vs. DCIT. CENTRAL CIRCLE - 3(4), CHENNAI

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha. G & Shri Manomohan Das

271(1)(c) of the Act & Sec.270A of the Act, and wordings therein both provisions are similar and para materia to each other. Although, the term ‘tax evasion’ has been redefined by way of ‘under reporting of income and under reporting as a consequence of misreporting of income’ but it is synonymous to concealment of particular of income or furnishing

M/S ENRICE ENTERPRISES PVT. LTD,CHENNAI vs. DCIT,CENTRAL CIRCLE-3(4), CHENNAI

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha. G & Shri Manomohan Das

271(1)(c) of the Act & Sec.270A of the Act, and wordings therein both provisions are similar and para materia to each other. Although, the term ‘tax evasion’ has been redefined by way of ‘under reporting of income and under reporting as a consequence of misreporting of income’ but it is synonymous to concealment of particular of income or furnishing

S.SATHYANARAYANAN,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal of the assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao]

u/s 271(1)(c) of the Act should be reckoned as invalid in the eyes of law’’. Ld. Authorised Representative further submitted that the additional grounds of appeal are purely legal in nature and goes to the root of the matter and therefore the same must be admitted in the light of the law laid by the Hon’ble Supreme

S.SATHYANARAYANAN,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal of the assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao]

u/s 271(1)(c) of the Act should be reckoned as invalid in the eyes of law’’. Ld. Authorised Representative further submitted that the additional grounds of appeal are purely legal in nature and goes to the root of the matter and therefore the same must be admitted in the light of the law laid by the Hon’ble Supreme

S.SATHYANARAYANAN,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal of the assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao]

u/s 271(1)(c) of the Act should be reckoned as invalid in the eyes of law’’. Ld. Authorised Representative further submitted that the additional grounds of appeal are purely legal in nature and goes to the root of the matter and therefore the same must be admitted in the light of the law laid by the Hon’ble Supreme

P. KALAISELVI ,POLUR vs. ACIT , VELLORE

In the result, appeal filed by the assessee is dismissed

Bench: Shri Mahavir Singh, Hon’Ble & Shri Arun Khodpia, Hon’Bleआयकर अपील सं./Ita No.984/Chny/2022 िनधा"रण वष" /Assessment Year: 2017-18 V. Ms.Palani Kalai Selvi, The Asst. Commissioner – No.2A, Old No.7, Of Income Tax, Abdul Sukkur St., Circle-1, Polur-606 608. Vellore. [Pan: Bcapk 5385 B] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/ Appellant By : None ""थ" की ओर से /Respondent By : Mr.P. Sajit Kumar, Jcit सुनवाई की तारीख/Date Of Hearing : 14.03.2023 घोषणा की तारीख /Date Of Pronouncement : 14.03.2023

43 ITD 259 (Pat). 2.13ln any view of the matter, the AO ought to have followed the binding decision of the Jurisdiction Madras High Court in P.Sehthilkumar vs PCIT, 416 ITR 336 (MAD) that non filing of audit report u/s 44AB before the 'due date' is only a technical breach and that if the audit report is available