M/S. SHOURIE DUPLICATORS PVT. LTD.,NEW DELHI vs. ITO, NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2006-07 M/S. Shourie Duplicators Vs. Income Tax Officer, Ward- Pvt. Ltd., 16A, Palam Marg, 8(2), New Delhi F-1, Vasant Vihar, New Delhi Gir/Pan :Aaacs0541B (Appellant) (Respondent) Appellant By Sh. K.V.S.R. Krishna, Advocate Respondent By Smt. Anima Barnwal, Sr. Dr Date Of Hearing 28.06.2016 Date Of Pronouncement 29.07.2016 Order Per O.P. Kant, A.M.: This Appeal By The Assessee Is Directed Against The Order Dated 19/12/2011 Of Learned Commissioner Of Income-Tax (Appeals)-Xi, New Delhi For Assessment Year 2006-07. In The Impugned Order, Learned Commissioner Of Income-Tax (Appeals) Has Sustained The Penalty Levied Under Section 271(1)(C) Of The Act By The Assessing Officer. The Grounds Of Appeal Raised By The Assessee Are As Under: “1. The Ld. Cit(A) Ought To Hrave Deleted The Penalty Imposed By The Ao U/S 271(1)(C) Of Rs.28,46,000/- As There Is No Concealment Of Income Or Furnishing Of Inaccurate Particulars Of Income. 2. The Cit(A) Has Failed To Appreciate That The Appellant Has Disclosed The Complete Transaction In The Audited