SAROSH YAZDANI,BHUBANESWAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, all the appeals of the assessee stand allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiait(Ss)A No A No.53/Ctk/2013: Assessment Year Assessment Years :2004-05 It(Ss)A No A No.54/Ctk/2013: Assessment Year Assessment Years :2005-06 It(Ss)A No A No.55/Ctk/2013: Assessment Year Assessment Years :2007-08 It(Ss)A No A No.67/Ctk/2013: Assessment Year Assessment Years :2006-07 It(Ss)A No A No.68/Ctk/2013: Assessment Year Assessment Years :2008-09

u/s. 271(l)(c) was sustained by the Hon'ble Mumbai IT AT on the ground that the AO therein had levied penalty after due application of mind, in as much as in the assessment order, it was mentioned that penalty proceedings were being initiated for furnishing of inaccurate particulars of income and the penalty was finally levied