AMIT BANSAL,HARYANA vs. ACIT CENTRAL CIRCLE-16, DELHI

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003, the Assessing Officer shall- (a) Issue notice to such person requiring him to furnish within such period, as may be specified

SANJEEV J AIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

u/s 153A, if any, admittedly, in this matter both the returned income and the assessed income are same. Whereas the Revenue was of the opinion that in as much that the income disclosed by the assessee under Section 153A was higher than the income in the original return filed under Section 139(1) and since in his view, such disclosure

RISHABH BUILDWELL P.LTD,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

u/s 153A, if any, admittedly, in this matter both the returned income and the assessed income are same. Whereas the Revenue was of the opinion that in as much that the income disclosed by the assessee under Section 153A was higher than the income in the original return filed under Section 139(1) and since in his view, such disclosure

SANJEEV JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

u/s 153A, if any, admittedly, in this matter both the returned income and the assessed income are same. Whereas the Revenue was of the opinion that in as much that the income disclosed by the assessee under Section 153A was higher than the income in the original return filed under Section 139(1) and since in his view, such disclosure

RISHABH BUILDWELL P.LTD,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

u/s 153A, if any, admittedly, in this matter both the returned income and the assessed income are same. Whereas the Revenue was of the opinion that in as much that the income disclosed by the assessee under Section 153A was higher than the income in the original return filed under Section 139(1) and since in his view, such disclosure

SANJEEV JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

u/s 153A, if any, admittedly, in this matter both the returned income and the assessed income are same. Whereas the Revenue was of the opinion that in as much that the income disclosed by the assessee under Section 153A was higher than the income in the original return filed under Section 139(1) and since in his view, such disclosure

SANJEEV J AIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

u/s 153A, if any, admittedly, in this matter both the returned income and the assessed income are same. Whereas the Revenue was of the opinion that in as much that the income disclosed by the assessee under Section 153A was higher than the income in the original return filed under Section 139(1) and since in his view, such disclosure

SANJEEV JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE, GHAZIABAD

In the result, the appeals of the assessee are allowed

Bench: Shri H. S. Sidhu & Dr. B. R. R. Kumar

u/s 153A, if any, admittedly, in this matter both the returned income and the assessed income are same. Whereas the Revenue was of the opinion that in as much that the income disclosed by the assessee under Section 153A was higher than the income in the original return filed under Section 139(1) and since in his view, such disclosure

NIRALA DEVELOPERS PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the five appeals are dismissed

Bench: Shri S.K. Yadav & Shri Anadee Nath Misshra

271(1)(c) or U/s 271AAA for either A.Y. 2011-12 or A.Y. 2012-13 because no income was recognized in accordance with Project Completion Method of accounting and no tax was payable. Thus, he submitted that assessee, NHPL and NDPL, were not liable for penalty U/s 271AAA of I.T. Act. He also relied on decisions reported in the following

DCIT, NEW DELHI vs. M/S NIRALA HOUSING PVT. LTD.,, NEW DELHI

In the result, all the five appeals are dismissed

Bench: Shri S.K. Yadav & Shri Anadee Nath Misshra

271(1)(c) or U/s 271AAA for either A.Y. 2011-12 or A.Y. 2012-13 because no income was recognized in accordance with Project Completion Method of accounting and no tax was payable. Thus, he submitted that assessee, NHPL and NDPL, were not liable for penalty U/s 271AAA of I.T. Act. He also relied on decisions reported in the following

M/S. NIRALA HOUSING PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the five appeals are dismissed

Bench: Shri S.K. Yadav & Shri Anadee Nath Misshra

271(1)(c) or U/s 271AAA for either A.Y. 2011-12 or A.Y. 2012-13 because no income was recognized in accordance with Project Completion Method of accounting and no tax was payable. Thus, he submitted that assessee, NHPL and NDPL, were not liable for penalty U/s 271AAA of I.T. Act. He also relied on decisions reported in the following

M/S. NIRALA HOUSING PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the five appeals are dismissed

Bench: Shri S.K. Yadav & Shri Anadee Nath Misshra

271(1)(c) or U/s 271AAA for either A.Y. 2011-12 or A.Y. 2012-13 because no income was recognized in accordance with Project Completion Method of accounting and no tax was payable. Thus, he submitted that assessee, NHPL and NDPL, were not liable for penalty U/s 271AAA of I.T. Act. He also relied on decisions reported in the following

M/S. NIRALA HOUSING PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the five appeals are dismissed

Bench: Shri S.K. Yadav & Shri Anadee Nath Misshra

271(1)(c) or U/s 271AAA for either A.Y. 2011-12 or A.Y. 2012-13 because no income was recognized in accordance with Project Completion Method of accounting and no tax was payable. Thus, he submitted that assessee, NHPL and NDPL, were not liable for penalty U/s 271AAA of I.T. Act. He also relied on decisions reported in the following

PR. COMMISSIONER OF INCOME TAX-19 vs. SHRI ANKUR AGGARWAL

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE NAJMI WAZIRI

u/s 271(1)(c) is imposable when there is variation in assessed and returned income and not otherwise. If there is no variation, there will be no concealment. When there is no concealment, the question of levy of penalty would not arise. 6. Aggrieved by the CIT (A) order, the Revenue filed appeal before the Income Tax Appellate Tribunal contending

PR. COMMISSIONER OF INCOME TAX-19 vs. SHRI ANKUR AGGARWAL

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE NAJMI WAZIRI

u/s 271(1)(c) is imposable when there is variation in assessed and returned income and not otherwise. If there is no variation, there will be no concealment. When there is no concealment, the question of levy of penalty would not arise. 6. Aggrieved by the CIT (A) order, the Revenue filed appeal before the Income Tax Appellate Tribunal contending

PR. COMMISSIONER OF INCOME TAX-19 vs. SHRI NEERAJ JINDAL

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE NAJMI WAZIRI

u/s 271(1)(c) is imposable when there is variation in assessed and returned income and not otherwise. If there is no variation, there will be no concealment. When there is no concealment, the question of levy of penalty would not arise. 6. Aggrieved by the CIT (A) order, the Revenue filed appeal before the Income Tax Appellate Tribunal contending

MOHAIR INVESTMENT AND TRADING COMPANY (P) LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result the appeal of the assessee is allowed

Bench: Shri A.T. Varkey & Shri O.P. Kant

151 wherein it was held that even if the main activity of the company was to make investments in holding company for retaining control over the group companies, the disallowance under section 14A can be made irrespective of the fact that dividend earnings were only incidental in nature. On the other hand, the assessee had relied on the decision

YORK SCIENTIFIC INDUSTRIES PVT. LTD.,DELHI vs. ITO, WARD- 27(4), NEW DELHI

In the result, the Appeal of the Assessee is dismissed

Bench: Shri H.S. Sidhu

section 271(1)(c) is illegal as the printed from without specifically mentioning the proceedings whether the proceedings are initiated on the ground of concealment of income or on account of furnishing of inaccurate particulars. Therefore, the penalty is liable to be deleted. 3. That on the facts and in the circumstances of the case, the CIT(A) has erred