DCIT, CIRCLE 22(2), NEW DELHI, NEW DELHI vs. SAHIL VACHANI, DELHI

Appeal of the Revenue stands dismissed

Bench: Shri Mahavir Singh, Vice Presdient (), Shri Vikas Awasthy& Shriavdhesh Kumar Mishraआअसं.2604/िद"ी/2023(िन.व. 2016-17)

u/s 271(1)(c) read with Explanation 1 is justified. 19. I find that while imposing penalty under section 271(1)(c) of the Act, the AO did not categorically mention the Explanation 1 to section 271(1)(c) of the Act though he mentioned that the explanation offered by the assessee was not found acceptable. Thus

DCIT, CIRCLE-3(2), NEW DELHI vs. ASIAN CONSOLIDATED INDS.LTD), REWARI

Appeal is dismissed

Bench: Shri Kul Bharat & Shri Brajesh Kumar Singhassessment Year: 1997-98

Section 271(1)(c) and non-application of mind of the AO. 6. Therefore, in the absence of specification of the limb, no penalty u/s 271(1)(c) could be initiated and the penalty notice issued to the assessee dated 08.03.2016 is defective and therefore the action of the CIT(A) in deleting the penalty is correct. B. No penalty

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

36. As per its grounds of appeal, the Revenue has challenged the order of the CIT(A) towards deletion of penalty under Section 271(1)(c) of the Act imposed on the assessee for wrongly claiming speculative loss of Rs.2,33,69,140/- as business loss. The CIT(A) has adjudicated the issue in favour of the assessee and reversed

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

36. As per its grounds of appeal, the Revenue has challenged the order of the CIT(A) towards deletion of penalty under Section 271(1)(c) of the Act imposed on the assessee for wrongly claiming speculative loss of Rs.2,33,69,140/- as business loss. The CIT(A) has adjudicated the issue in favour of the assessee and reversed

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

36. As per its grounds of appeal, the Revenue has challenged the order of the CIT(A) towards deletion of penalty under Section 271(1)(c) of the Act imposed on the assessee for wrongly claiming speculative loss of Rs.2,33,69,140/- as business loss. The CIT(A) has adjudicated the issue in favour of the assessee and reversed

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

36. As per its grounds of appeal, the Revenue has challenged the order of the CIT(A) towards deletion of penalty under Section 271(1)(c) of the Act imposed on the assessee for wrongly claiming speculative loss of Rs.2,33,69,140/- as business loss. The CIT(A) has adjudicated the issue in favour of the assessee and reversed

INFRA ENGINEERS LTD.,GURGAON vs. DCIT, CC-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

36. As per its grounds of appeal, the Revenue has challenged the order of the CIT(A) towards deletion of penalty under Section 271(1)(c) of the Act imposed on the assessee for wrongly claiming speculative loss of Rs.2,33,69,140/- as business loss. The CIT(A) has adjudicated the issue in favour of the assessee and reversed

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

36. As per its grounds of appeal, the Revenue has challenged the order of the CIT(A) towards deletion of penalty under Section 271(1)(c) of the Act imposed on the assessee for wrongly claiming speculative loss of Rs.2,33,69,140/- as business loss. The CIT(A) has adjudicated the issue in favour of the assessee and reversed

A2Z MAINTENANCE & ENGINEERING SERVICES LTD.,GURGAON vs. DCIT, CENTRAL CIRCLE-II, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

36. As per its grounds of appeal, the Revenue has challenged the order of the CIT(A) towards deletion of penalty under Section 271(1)(c) of the Act imposed on the assessee for wrongly claiming speculative loss of Rs.2,33,69,140/- as business loss. The CIT(A) has adjudicated the issue in favour of the assessee and reversed

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

36. As per its grounds of appeal, the Revenue has challenged the order of the CIT(A) towards deletion of penalty under Section 271(1)(c) of the Act imposed on the assessee for wrongly claiming speculative loss of Rs.2,33,69,140/- as business loss. The CIT(A) has adjudicated the issue in favour of the assessee and reversed

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

penalty amounting to Rs.3,41,59,950/- was levied under Section 271(1)(c) in respect of aforesaid quantum additions of Rs.6,36,50,000/- and Rs.33,50,000/-. The assessee filed appeals against aforesaid order dated 30.03.2019 passed by the AO u/s

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

penalty amounting to Rs.3,41,59,950/- was levied under Section 271(1)(c) in respect of aforesaid quantum additions of Rs.6,36,50,000/- and Rs.33,50,000/-. The assessee filed appeals against aforesaid order dated 30.03.2019 passed by the AO u/s

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

penalty amounting to Rs.3,41,59,950/- was levied under Section 271(1)(c) in respect of aforesaid quantum additions of Rs.6,36,50,000/- and Rs.33,50,000/-. The assessee filed appeals against aforesaid order dated 30.03.2019 passed by the AO u/s

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

penalty amounting to Rs.3,41,59,950/- was levied under Section 271(1)(c) in respect of aforesaid quantum additions of Rs.6,36,50,000/- and Rs.33,50,000/-. The assessee filed appeals against aforesaid order dated 30.03.2019 passed by the AO u/s

GEORGE KUTTY,NEW DELHI vs. DCIT, CIRCLE-13(1), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Kul Bharat[Assessment Year : 2010-11] George Kutty, Vs Dcit, C/O-M/S. Oasis Tours India (P.) Circle-13(1), Ltd., C-40, Middle Circle, Dwarka New Delhi. Sadan, Connaught Place, New Delhi-110001. Pan-Aajpk4005H Appellant Respondent Appellant By Shri Manish Malik, Adv. Respondent By Shri Om Parkash, Sr.Dr Date Of Hearing 11.08.2022 Date Of Pronouncement 24.08.2022

u/s 271(1)(c) ; Notes that CIT(A) had deleted the penalty by applying the ratio laid down by Karnataka HC in Manjunatha Cotton and Ginning Factory case; Further takes note of Bangalore ITAT ruling in case of P.M.Abdulla, wherein it was clarified that the said HC decision had not considered the provisions of sec.292B, also notes that

DCIT, CIRCLE- 20(1), NEW DELHI vs. POLYPLEX CORPORATION LIMITED., NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Kul Bharat & Shri M.Balaganesh[Assessment Year : 2016-17] Dcit, Vs Polyplex Corporation Limited, Circle-20(1), 40, New Mandakini, Greater New Delhi Kailash, New Delhi-110092. Pan-Aaacp0278J Appellant Respondent Appellant By Shri Vivek Vardhan, Sr.Dr Respondent By Shri Ved Jain, Adv. & Shri Aman Garg, Ca Date Of Hearing 04.04.2024 Date Of Pronouncement 12.04.2024

36 DTR 449 (SC) wherein it was held by Hon'ble Supreme Court that merely because of the assessee's claim, deduction of the interest of expenses which has not been accepted by revenue, penalty u/s 271(1)(c) not attracted, for merely making of the claim, which is not sustainable in law by itself will not amount furnishing inaccurate

ABHINAV INTERNATIONAL PVT. LTD.,,NEW DELHI vs. DCIT CIRCLE-1(1), NEW DELHI

In the result, appeal of appellant bearing Appeal

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

penalty of Rs 29,40,760/- imposed u/s 271 (1)(c) is upheld in the instant case and the appellant gets a relief of Rs 1,12,950/-. Ground No. 2 is partly allowed. 7.4 Ground No. 1 & 3 are general in nature and do not require any adjudication. 8. In the result, appeal of appellant bearing Appeal. No. 506/17-18

KRISHNA ENTERPRISES,DELHI vs. ACIT CIRCLE 34(1), DELHI, DELHI

In the result, appeal of the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Brajesh Kumar Singh[Assessment Year: 2013-14] Krishna Enterprises, Assistant Commissioner Of 202, Bhagirathi Apartment, Income Tax, Sector-9, Rohini, Delhi- Vs Circle 34(1), 110085. Delhi. Pan- Aahfk4892P Assessee Revenue

36,44,470/- Since, the assessee has concealed particulars of his income, penalty proceedings u/s 271(1)(c) of the Act is being initiated separately for concealment of particulars of income. Further, penalty u/s 271B of the I.T. Act is hereby initiated for non-maintenance of accounts and get audited.” (emphasis supplied) 3.2 The AO, thereafter, issued penalty notice dated