M/S. HOUSING AND URBAN DEVELOPMENT CORPORATION LTD.(HUDCO),NEW DELHI vs. DCIT, NEW DELHI

Appeals of the assessee stands allowed

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

143 or fails to comply with a direction issued under sub- Section (2A) of Section 142; or (c) Has concealed the particulars of his income or furnished inaccurate particulars of such income, he may direct that such person shall pay by way of penalty,- (i) ** ** ** (ii) In the cases referred to in clause (b), in addition to any tax payable

M/S. HOUSING AND URBAN DEVELOPMENT CORPORATION LTD.(HUDCO),NEW DELHI vs. DCIT, NEW DELHI

Appeals of the assessee stands allowed

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

143 or fails to comply with a direction issued under sub- Section (2A) of Section 142; or (c) Has concealed the particulars of his income or furnished inaccurate particulars of such income, he may direct that such person shall pay by way of penalty,- (i) ** ** ** (ii) In the cases referred to in clause (b), in addition to any tax payable

HOUSING & URBAN DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. DCIT, NEW DELHI

Appeals of the assessee stands allowed

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

143 or fails to comply with a direction issued under sub- Section (2A) of Section 142; or (c) Has concealed the particulars of his income or furnished inaccurate particulars of such income, he may direct that such person shall pay by way of penalty,- (i) ** ** ** (ii) In the cases referred to in clause (b), in addition to any tax payable

SMT. SUMAN LAKHANI,NEW DELHI vs. ACIT, FARIDABAD

In the result, the penalty amounting to Rs

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

section 271(l)(c). Therefore, it is obvious that it must be shown that the conditions u/s 271(l)(c) must exist before the penalty is imposed. There can be no dispute that everything would depend upon the return filed because that is the only document where the assessee can furnish the particulars of his income. When such particulars

ACIT, NEW DELHI vs. M/S. RESURGERE MINES AND MINERALS INDIA LTD., MUMBAI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

143(3) of the Income tax Act, 1961 (in short “the Act”) determining the total income on Rs.94,52,99,610/- wherein separate additions amounting to Rs.1,69,57,108/- (on account of valuation of stock) and Rs.71,223/- (on account of disallowance u/s 14A of the Act r.w. Rule 8D of Income tax Rules) were made. The AO also

SHYAM SUNDER JINDAL,NEW DELHI vs. ACIT, NEW DELHI

In the result both the appeals of the assessee are allowed

Bench: Shri N.K. Saini & Smt. Beena A Pillai & Assessment Year:- 2006-07 Sh. Shyam Sunder Jindal Vs. Acit, Central Circle 30 12 A, Green Avenue New Delhi Sector D, Pocket 3 Vasant Kunj New Delhi 110 070 Pan: Aagpj 0184 N

u/s 142(1) of the Act. " A.Y. 2006-07 Sh. Shyam Sunder Jindal, New Delhi (Pages 1 to 3 of the Paper book) 1.2.5 On perusal of the impugned order, it is quite evident that the learned assessing officer imposed penalty under section 271(1)(b) of the 1ncome tax Act, 1961 only on the basis that the appellant

DCIT, NEW DELHI vs. M/S. GRANITE GATE PROPERTIES PVT. LTD., NEW DELHI

Bench: Shri H.S. Sidhu & Shri Anadi N Mishra

penalty u/s 271(l)(c) and dismissed assessee's appeal relying on the following decisions 1. K.P. Madhusudhanan v. CIT (2001) 118 TAXMAN 324 (SC) 2. Ravi & Co. v. ACIT (2005) 143 TAXMAN 287 (MAD.) 3. M. Sajjanraj Nahar v. CIT (2006) 155 TAXMAN 536 (MAD.) 4. CIT, Delhi-IV v. Escorts Finance Ltd. *(2009) 183 TAXMAN 453 (DELHI

KUNAL GUPTA,NEW DELHI vs. DCIT CENTRAL CIRCLE-7, NEW DELHI

Appeal is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

271 has specifically given the procedure upon which rather to say provisions upon which the penalty is attracted in a particular case. Firstly, the Assessing Officer has to give the satisfaction that the person has failed to comply with the notice under Sub Section 2 of Section 115WD or under Sub Section 2 of Section 115WE or under Sub Section

AYUSH GUPTA,NEW DELHI vs. DCIT CENTRAL CIRCLE-7, NEW DELHI

Appeal is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

271 has specifically given the procedure upon which rather to say provisions upon which the penalty is attracted in a particular case. Firstly, the Assessing Officer has to give the satisfaction that the person has failed to comply with the notice under Sub Section 2 of Section 115WD or under Sub Section 2 of Section 115WE or under Sub Section

AKSHAY GUPTA,DELHI vs. DCIT, CENTRAL CIRCLE-7, NEW DELHI

Appeal is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

271 has specifically given the procedure upon which rather to say provisions upon which the penalty is attracted in a particular case. Firstly, the Assessing Officer has to give the satisfaction that the person has failed to comply with the notice under Sub Section 2 of Section 115WD or under Sub Section 2 of Section 115WE or under Sub Section

ASHISH MITTAL,NEW DELHI vs. DCIT CENTRAL CIRCLE, NEW DELHI

Appeal is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

271 has specifically given the procedure upon which rather to say provisions upon which the penalty is attracted in a particular case. Firstly, the Assessing Officer has to give the satisfaction that the person has failed to comply with the notice under Sub Section 2 of Section 115WD or under Sub Section 2 of Section 115WE or under Sub Section

AYUSH GUPTA,NEW DELHI vs. DCIT CENTRAL CIRCLE- 7, NEW DELHI

Appeal is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

271 has specifically given the procedure upon which rather to say provisions upon which the penalty is attracted in a particular case. Firstly, the Assessing Officer has to give the satisfaction that the person has failed to comply with the notice under Sub Section 2 of Section 115WD or under Sub Section 2 of Section 115WE or under Sub Section

ASHISH MITTAL,NEW DELHI vs. DCIT, CENTRAL CIRCLE-7, NEW DELHI

Appeal is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

271 has specifically given the procedure upon which rather to say provisions upon which the penalty is attracted in a particular case. Firstly, the Assessing Officer has to give the satisfaction that the person has failed to comply with the notice under Sub Section 2 of Section 115WD or under Sub Section 2 of Section 115WE or under Sub Section

KUNAL GUPTA,NEW DELHI vs. DCIT CENTRAL CIRCLE-7, NEW DELHI

Appeal is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

271 has specifically given the procedure upon which rather to say provisions upon which the penalty is attracted in a particular case. Firstly, the Assessing Officer has to give the satisfaction that the person has failed to comply with the notice under Sub Section 2 of Section 115WD or under Sub Section 2 of Section 115WE or under Sub Section

AKSHAY GUPTA,DELHI vs. DCIT, CENTRAL CIRCLE-7, NEW DELHI

Appeal is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

271 has specifically given the procedure upon which rather to say provisions upon which the penalty is attracted in a particular case. Firstly, the Assessing Officer has to give the satisfaction that the person has failed to comply with the notice under Sub Section 2 of Section 115WD or under Sub Section 2 of Section 115WE or under Sub Section

AKSHAY GUPTA,DELHI vs. DCIT, CENTRAL CIRCLE-7, NEW DELHI

Appeal is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

271 has specifically given the procedure upon which rather to say provisions upon which the penalty is attracted in a particular case. Firstly, the Assessing Officer has to give the satisfaction that the person has failed to comply with the notice under Sub Section 2 of Section 115WD or under Sub Section 2 of Section 115WE or under Sub Section

ASHISH MITTAL,NEW DELHI vs. DCIT, CENTRAL CIRCLE-7, NEW DELHI

Appeal is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

271 has specifically given the procedure upon which rather to say provisions upon which the penalty is attracted in a particular case. Firstly, the Assessing Officer has to give the satisfaction that the person has failed to comply with the notice under Sub Section 2 of Section 115WD or under Sub Section 2 of Section 115WE or under Sub Section

ASHISH MITTAL,NEW DELHI vs. DCIT, CENTRAL CIRCLE-7, NEW DELHI

Appeal is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

271 has specifically given the procedure upon which rather to say provisions upon which the penalty is attracted in a particular case. Firstly, the Assessing Officer has to give the satisfaction that the person has failed to comply with the notice under Sub Section 2 of Section 115WD or under Sub Section 2 of Section 115WE or under Sub Section