A2Z INFRA ENGINEERING LIMITED,GURGAON vs. CCIT- CENTRAL CIRCLE-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

10 also,. As per the assessment order, the assessee offered a disclosure of Rs.1,56,00,000/- toward undisclosed income in the statement recorded under Section 132(4) of the Act. Similar to AY 2008-09 supra, the aforesaid amount was included by the assessee in the return of income filed under Section 153A of the Act. The penalty proceedings

DCIT-CENTRAL CIRCLE-2, FARIDABAD vs. A2Z INFRA ENGINEERS LTD., GURGAON

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

10 also,. As per the assessment order, the assessee offered a disclosure of Rs.1,56,00,000/- toward undisclosed income in the statement recorded under Section 132(4) of the Act. Similar to AY 2008-09 supra, the aforesaid amount was included by the assessee in the return of income filed under Section 153A of the Act. The penalty proceedings

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. DCIT- CENTRAL CIRCLE-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

10 also,. As per the assessment order, the assessee offered a disclosure of Rs.1,56,00,000/- toward undisclosed income in the statement recorded under Section 132(4) of the Act. Similar to AY 2008-09 supra, the aforesaid amount was included by the assessee in the return of income filed under Section 153A of the Act. The penalty proceedings

DCIT CC-2 , FARIDABAD vs. A2Z MAINTENANCE AND ENGINEERING SERVICES LTD., GURGAON

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

10 also,. As per the assessment order, the assessee offered a disclosure of Rs.1,56,00,000/- toward undisclosed income in the statement recorded under Section 132(4) of the Act. Similar to AY 2008-09 supra, the aforesaid amount was included by the assessee in the return of income filed under Section 153A of the Act. The penalty proceedings

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. DCIT CC-2 , FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

10 also,. As per the assessment order, the assessee offered a disclosure of Rs.1,56,00,000/- toward undisclosed income in the statement recorded under Section 132(4) of the Act. Similar to AY 2008-09 supra, the aforesaid amount was included by the assessee in the return of income filed under Section 153A of the Act. The penalty proceedings

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. DCIT- CENTRAL CIRCLE-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

10 also,. As per the assessment order, the assessee offered a disclosure of Rs.1,56,00,000/- toward undisclosed income in the statement recorded under Section 132(4) of the Act. Similar to AY 2008-09 supra, the aforesaid amount was included by the assessee in the return of income filed under Section 153A of the Act. The penalty proceedings

VISHWANATH AGGARWAL,DELHI vs. THE ADDL. CIT, CENTRAL RANGE-05, DELHI

The appeals of the assessee are allowed and the penalty is deleted

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

10,000 or more.” 5.10 On the basis of the aforesaid, it was submitted that it is indisputably clear that the law was enacted only with a view to countering the device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits. From the aforesaid the legislative intention behind the introduction of the aforesaid circular is clear. This section

VISHWANATH AGGARWAL ,DELHI vs. THE ADDL. CIT, CENTRAL RANGE-05, DELHI

The appeals of the assessee are allowed and the penalty is deleted

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

10,000 or more.” 5.10 On the basis of the aforesaid, it was submitted that it is indisputably clear that the law was enacted only with a view to countering the device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits. From the aforesaid the legislative intention behind the introduction of the aforesaid circular is clear. This section

VISHWANATH AGGARWAL,DELHI vs. THE ADDL. CIT, CENTRAL RANGE-05, DELHI

The appeals of the assessee are allowed and the penalty is deleted

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

10,000 or more.” 5.10 On the basis of the aforesaid, it was submitted that it is indisputably clear that the law was enacted only with a view to countering the device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits. From the aforesaid the legislative intention behind the introduction of the aforesaid circular is clear. This section

VISHWANATH AGGARWAL,DELHI vs. THE ADDL. CIT, CENTRAL RANGE-05, DELHI

The appeals of the assessee are allowed and the penalty is deleted

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

10,000 or more.” 5.10 On the basis of the aforesaid, it was submitted that it is indisputably clear that the law was enacted only with a view to countering the device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits. From the aforesaid the legislative intention behind the introduction of the aforesaid circular is clear. This section

VISHWANATH AGGARWAL,DELHI vs. THE ADDL. CIT, CENTRAL RANGE-05, DELHI

The appeals of the assessee are allowed and the penalty is deleted

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

10,000 or more.” 5.10 On the basis of the aforesaid, it was submitted that it is indisputably clear that the law was enacted only with a view to countering the device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits. From the aforesaid the legislative intention behind the introduction of the aforesaid circular is clear. This section

VISHWANATH AGGARWAL ,DELHI vs. THE ADDL. CIT, CENTRAL RANGE-05, DELHI

The appeals of the assessee are allowed and the penalty is deleted

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

10,000 or more.” 5.10 On the basis of the aforesaid, it was submitted that it is indisputably clear that the law was enacted only with a view to countering the device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits. From the aforesaid the legislative intention behind the introduction of the aforesaid circular is clear. This section

VISHWANATH AGGARWAL,DELHI vs. THE ADDL. CIT, CENTRAL RANGE-05, DELHI

The appeals of the assessee are allowed and the penalty is deleted

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

10,000 or more.” 5.10 On the basis of the aforesaid, it was submitted that it is indisputably clear that the law was enacted only with a view to countering the device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits. From the aforesaid the legislative intention behind the introduction of the aforesaid circular is clear. This section

VISHWANATH AGGARWAL,DELHI vs. THE ADDL. CIT, CENTRAL RANGE-05, DELHI

The appeals of the assessee are allowed and the penalty is deleted

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

10,000 or more.” 5.10 On the basis of the aforesaid, it was submitted that it is indisputably clear that the law was enacted only with a view to countering the device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits. From the aforesaid the legislative intention behind the introduction of the aforesaid circular is clear. This section

PRATEEK GUPTA,GHAZIABAD vs. PR, CIT, GHAZIABAD

In the result, the appeal of the assessee is allowed

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year: 2015-16 Prateek Gupta, Vs. Pr. Cit 152, Chanderpuri, Ghaziabad Ghaziabad, Uttar Pradesh 201001 Pan Atbpg8602J (Appellant) (Respondent)

271(l)(c) of the Act may not be levied on the assessee. In this connection it is submitted that above section provides for penalty in the cases of concealment of income or furnishing inaccurate particulars but in the captioned matter neither any income was concealed nor any inaccurate particulars of income filed, at any stage. The notice is thus

NOVA PROMOTERS AND FINLEASE PVT. LTD.,DELHI vs. ITO, NEW DELHI

Bench: Shri S.Rifaur Rahman & Ms.Madhumita Roynova Promoters & Vs. Ito, Ward 13(3) Finlease Pvt. Ltd. Ito Building, I.P. Estate 7, Kapil Vihar, Pitampura, Delhi – 34

46,85,932/- the AO has recorded that it is beyond doubt that the assessee has concealed his income or furnished inaccurate particulars of his income for the assessment year under consideration, therefore, it is a fit case for imposing a penalty u/s 271(1)(c) of the IT Act. Thus, in the penalty order the AO has not specifically

M.L. SINGHI & ASSOCIATES (P) LTD.,NEW DELHI vs. ACIT CC-15, NEW DELHI

In the result, these four appeals are treated as allowed for statistical purposes

46,170/-. Additions of Rs.6,36,50,000/- (on account of share premium) and Rs.33,50,000/- (on account of share application money) were made in the aforesaid assessment order. Subsequently, vide order dated 30.03.2019 passed under Section 271(1)(c) of IT Act, penalty amounting to Rs.3,41,59,950/- was levied under Section 271(1)(c) in respect

M.L. SINGHI & ASSOCIATES (P) LTD.,NEW DELHI vs. ACIT CC-15, NEW DELHI

In the result, these four appeals are treated as allowed for statistical purposes

46,170/-. Additions of Rs.6,36,50,000/- (on account of share premium) and Rs.33,50,000/- (on account of share application money) were made in the aforesaid assessment order. Subsequently, vide order dated 30.03.2019 passed under Section 271(1)(c) of IT Act, penalty amounting to Rs.3,41,59,950/- was levied under Section 271(1)(c) in respect