M/S. PRAKASH KUMAR ROUT,CUTTACK vs. ACIT, CENTRAL CIRCLE, CUTTACK

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

271 and not 271AAB. In this respect, the copy of notice has been produced by the ld. A.R. before me. It is seen that the ld A.R is correct in observing that the section of penalty has not been correctly mentioned by the AO in the caption. However, the AO will get the benefit of section 292BB of the Income

M/S. PRAKASH KUMAR ROUT,CUTTACK vs. ACIT, CENTRAL CIRCLE, CUTTACK

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

271 and not 271AAB. In this respect, the copy of notice has been produced by the ld. A.R. before me. It is seen that the ld A.R is correct in observing that the section of penalty has not been correctly mentioned by the AO in the caption. However, the AO will get the benefit of section 292BB of the Income

M/S. PRAGATI MILK PRODUCT PVT. LTD.,CUTTACK vs. ACIT, CENTRAL CIRCLE, CUTTACK

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

271 and not 271AAB. In this respect, the copy of notice has been produced by the ld. A.R. before me. It is seen that the ld A.R is correct in observing that the section of penalty has not been correctly mentioned by the AO in the caption. However, the AO will get the benefit of section 292BB of the Income

DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

In the result, all the three appeals of the Revenue are dismissed

16 persons without stipulating any time frame towards return refund of money without interest, in case of non-allotment of shares either fully or partly. In this case, the money retained by outside the accounts. The provision of Section 26955 and 2591 therefore have application only in a limited way in respect of deposits or loans. When it is neither

DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

In the result, all the three appeals of the Revenue are dismissed

16 persons without stipulating any time frame towards return refund of money without interest, in case of non-allotment of shares either fully or partly. In this case, the money retained by outside the accounts. The provision of Section 26955 and 2591 therefore have application only in a limited way in respect of deposits or loans. When it is neither

PANDA INFRATECH LIMITED,BHUBANESWAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, BHUBANESWAR

In the result, appeal of the assessee is allowed

Bench: Before Shri George Mathanmember & Manish Agarwal Manish Agarwalassessment Year : 2015-16 Panda Panda Infratech Infratech Limited, Limited, Vs. Dy. Dy. Commissioner Commissioner Of Of Plot Plot No.620, No.620, Janpath, Janpath, Income Tax, Central Circle- Income Tax, Central Circle Saheed Saheed Nagar, Nagar, 2, Bhubaneswar. 2, Bhubaneswar. Bhubaneswar Pan/Gir No. No.Aafcp7216 D (Appellant (Appellant) .. ( Respondent Respondent) Assessee By Assessee By : Shri D.Parida, Ca & C.A.Parida & C.A.Parida, Adv Revenue By : Shri S.C.Mohanty, Sr Dr : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 16/12/20 2024 Date Of Pronouncement : 16/12/20 024 O R D E R Per Bench This Is An This Is An Appeal Filed By The Assessee Against The Orde Appeal Filed By The Assessee Against The Order Of The Ld Cit(A), Bhubaneswar Cit(A), Bhubaneswar-2 Dated 10.8.2024 In Appeal No. In Appeal No.Cit(A), Bhubaneswar-2/10013/2018 2/10013/2018-19 Against Against The The Penalty Penalty Order Order Passed Passed U/S.271Aab Of The Act U/S.271Aab Of The Act For The Assessment Year 2015-16. 2. The Assessee Has Raised The Following Grounds In This Appeal: The Assessee Has Raised The Following Grounds In This Appeal: The Assessee Has Raised The Following Grounds In This Appeal:

u/s 271AAB of the Act in the facts and circumstances of the instant case would have no legs to stand in the eyes of law. Accordingly, the grounds raised by the assessee are allowed on this technical aspect.” 13. Similarly, Hon’ble High Court of Calcutta in the case of Industrial Safety Products Pvt Ltd (supra) has held the issue

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

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

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

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

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

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

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

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

SAMBIT RESORTS PVT. LTD.,BHUBANESWAR vs. ACIT, BHUBANESWAR

In the result, both the appeals filed by the assessee are allowed

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

u/s 271(1 )(c) of the Act. 15. The penalty provisions of section 27l(l)(c) of the Act are attracted where the assessee has concealed the particulars of income or furnished inaccurate particulars of such income. It is also a well-accepted proposition that the aforesaid two limbs of section 271(l)(c) of the Act carry different meanings

S.M.ENTERPRISERS,KEONJHAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, all appeals of the assessee are allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.199, 200, 201 & 202, 233 & 234/Ctk/2020 (ननधाारण वषा / Assessment Years :2004-2005 To 2009-2010) S.M.Enterprises, Vs Dcit, Circle-2(1), Bhubaneswar At : Balda, Po : Joda, Keonjhar-758034 Bhubaneswar-751013 Pan No. : Aatfs 6804 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri Sunil Mishra, Advocate राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 20/10/2022 घोषणा की तारीख/Date Of Pronouncement : 20/10/2022 आदेश / O R D E R Per Bench : These Are The Appeals Filed By The Assessee Against The Separate Orders Of The Ld.Cit(A)-1, Bhubaneswar Passed In I.T.Appeal Nos.0105- 0108/15-16, Dated 01.09.2020 & In I.T.Appeal Nos.0109 & 0110/15-16, Dated 22.09.2020 For The Assessment Years 2004-2005 To 2009-2010. 2. It Was Submitted By The Ld. Ar That The Assessee Had Originally Filed Its Return Of Income Declaring Its Income From Extraction Of Iron Ore As A Contractor In The Mines Of Serajuddin & Co. There Was A Search In The Premises Of The Serajuddin & Co. On 28.05.2008. Consequent Survey Had Been Done On The Assessee On 09.07.2008. Admittedly, Books Of Account Of The Assessee Had Not Been Found. There Was A Search On The 2

u/s. 271(1)(c) was sustained by the Hon'ble Mumbai ITAT 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 on the same

S.M.ENTERPRISERS,KEONJHAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, all appeals of the assessee are allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.199, 200, 201 & 202, 233 & 234/Ctk/2020 (ननधाारण वषा / Assessment Years :2004-2005 To 2009-2010) S.M.Enterprises, Vs Dcit, Circle-2(1), Bhubaneswar At : Balda, Po : Joda, Keonjhar-758034 Bhubaneswar-751013 Pan No. : Aatfs 6804 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri Sunil Mishra, Advocate राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 20/10/2022 घोषणा की तारीख/Date Of Pronouncement : 20/10/2022 आदेश / O R D E R Per Bench : These Are The Appeals Filed By The Assessee Against The Separate Orders Of The Ld.Cit(A)-1, Bhubaneswar Passed In I.T.Appeal Nos.0105- 0108/15-16, Dated 01.09.2020 & In I.T.Appeal Nos.0109 & 0110/15-16, Dated 22.09.2020 For The Assessment Years 2004-2005 To 2009-2010. 2. It Was Submitted By The Ld. Ar That The Assessee Had Originally Filed Its Return Of Income Declaring Its Income From Extraction Of Iron Ore As A Contractor In The Mines Of Serajuddin & Co. There Was A Search In The Premises Of The Serajuddin & Co. On 28.05.2008. Consequent Survey Had Been Done On The Assessee On 09.07.2008. Admittedly, Books Of Account Of The Assessee Had Not Been Found. There Was A Search On The 2

u/s. 271(1)(c) was sustained by the Hon'ble Mumbai ITAT 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 on the same

S M ENTERPRISERS,KEONJHAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, all appeals of the assessee are allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.199, 200, 201 & 202, 233 & 234/Ctk/2020 (ननधाारण वषा / Assessment Years :2004-2005 To 2009-2010) S.M.Enterprises, Vs Dcit, Circle-2(1), Bhubaneswar At : Balda, Po : Joda, Keonjhar-758034 Bhubaneswar-751013 Pan No. : Aatfs 6804 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri Sunil Mishra, Advocate राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 20/10/2022 घोषणा की तारीख/Date Of Pronouncement : 20/10/2022 आदेश / O R D E R Per Bench : These Are The Appeals Filed By The Assessee Against The Separate Orders Of The Ld.Cit(A)-1, Bhubaneswar Passed In I.T.Appeal Nos.0105- 0108/15-16, Dated 01.09.2020 & In I.T.Appeal Nos.0109 & 0110/15-16, Dated 22.09.2020 For The Assessment Years 2004-2005 To 2009-2010. 2. It Was Submitted By The Ld. Ar That The Assessee Had Originally Filed Its Return Of Income Declaring Its Income From Extraction Of Iron Ore As A Contractor In The Mines Of Serajuddin & Co. There Was A Search In The Premises Of The Serajuddin & Co. On 28.05.2008. Consequent Survey Had Been Done On The Assessee On 09.07.2008. Admittedly, Books Of Account Of The Assessee Had Not Been Found. There Was A Search On The 2

u/s. 271(1)(c) was sustained by the Hon'ble Mumbai ITAT 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 on the same

S.M.ENTERPRISERS,KEONJHAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, all appeals of the assessee are allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.199, 200, 201 & 202, 233 & 234/Ctk/2020 (ननधाारण वषा / Assessment Years :2004-2005 To 2009-2010) S.M.Enterprises, Vs Dcit, Circle-2(1), Bhubaneswar At : Balda, Po : Joda, Keonjhar-758034 Bhubaneswar-751013 Pan No. : Aatfs 6804 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri Sunil Mishra, Advocate राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 20/10/2022 घोषणा की तारीख/Date Of Pronouncement : 20/10/2022 आदेश / O R D E R Per Bench : These Are The Appeals Filed By The Assessee Against The Separate Orders Of The Ld.Cit(A)-1, Bhubaneswar Passed In I.T.Appeal Nos.0105- 0108/15-16, Dated 01.09.2020 & In I.T.Appeal Nos.0109 & 0110/15-16, Dated 22.09.2020 For The Assessment Years 2004-2005 To 2009-2010. 2. It Was Submitted By The Ld. Ar That The Assessee Had Originally Filed Its Return Of Income Declaring Its Income From Extraction Of Iron Ore As A Contractor In The Mines Of Serajuddin & Co. There Was A Search In The Premises Of The Serajuddin & Co. On 28.05.2008. Consequent Survey Had Been Done On The Assessee On 09.07.2008. Admittedly, Books Of Account Of The Assessee Had Not Been Found. There Was A Search On The 2

u/s. 271(1)(c) was sustained by the Hon'ble Mumbai ITAT 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 on the same