Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.229/Ctk/2019 (नििाारण वषा / Assessment Year : 2014 - 2015) M/S Skm-Umsl Jv, Vs. Ito, Ward-4(3), At-Imfa Building, Bomikhal, Bhubaneswar Rasulgarh, Bhubaneswar स्थायी ऱेखा सं./Pan No. : Aajas 2542 P (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri S.K.Jena, Advocate राजस्व की ओर से /Revenue By : Shri Subhendu Dutta, Dr सुनवाई की तारीख / Date Of Hearing : 28/01/2020 घोषणा की तारीख/Date Of Pronouncement : 17/02/2020 आदेश / O R D E R Per L.P.Sahu, Am : This Is An Appeal Filed By The Assessee Against Order Of Cit(A)-2, Bhubaneswar, Dated 18.04.2019 For The Assessment Year 2014-2015, On The Following Grounds :- A. For That The Learned Assessing Officer (Ld. Ao) Has Initiated Penalty Proceeding On The Behest Of Ld. Dcit (Tp)-Ii, Kolkata U/S.271Ba Of The Income Tax Act, 1961 (Act) In The Assessment Order Dated29.12.2017 Passed U/S. 143(3) Of The Act . The Impugned Order Of Imposing Penalty U/S.271Ba Of Act Has Been Passed On 25.06.2018 By The Ld. A.O Without Affording Reasonable Opportunity To The Appellant & Without Exercising His Discretion As Vested By The Statute. However Without Adjudicating The Appeal Despite The Fact That The Particular Provision Of Specified Domestic Transaction Has Been Omitted From Statute By The Finance Act, 2017 The Ld. Cit (A) Is Erred In Upholding The Penalty Order. Therefore Orders Of Forum Below Are Unsustainable & Impermissible Under Law.

price in relation to specified domestic transactions u/s.92CA of the Act. Thereafter as per the order of the TPO, the AO completed assessment making addition of Rs.55,43,224/-. Simultaneously, the penalty proceedings u/s.271BA of the Act was initiated against the assessee for failure to furnish the report in prescribed Form No.3CEB in terms of provision of section