THE DCIT-CENTRAL-2, INDORE vs. M/S. KALYAN TOLL INFRASTRUCTURE LTD., INDORE

In the result all the grounds raised by Revenue in the case of

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2010-11

10 Keti Construction (India) Ltd & Kalyan Toll Infrastructure Ltd. ITA Nos. 877 & 878/Ind/2019 The assessment proceedings: 17.3.3 It is submitted that the Learned AO in the assessment order rejected the peak theory and consequentially also rejected the cash flow statement as discussed in Para 12.8.1 of the assessment order and proceeded to add the entire share capital raised

M/S KETI SANGAM INFRASTRUCTURE (I) LTD.,INDORE vs. THE DCIT (CENTRAL), INDORE

In the result, all the 12 appeals filed at the instance of

Bench: Shri Kul Bharat & Shri Manish Borad

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1). (4) The provisions of sections 274 and 275 shall, so far as may be, apply in relation to the penalty referred to in this section. Explanation.—For the purposes of this section,— (a) "undisclosed income" means— (i) any income

M/S SHREE COAL ENTERPRISES (I) PVT. LTD.,BHOPAL vs. THE ACIT 3(1), BHOPAL

In the result, all the 12 appeals filed at the instance of

Bench: Shri Kul Bharat & Shri Manish Borad

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1). (4) The provisions of sections 274 and 275 shall, so far as may be, apply in relation to the penalty referred to in this section. Explanation.—For the purposes of this section,— (a) "undisclosed income" means— (i) any income

M/S KETI SANGHAM INFRASTRUTURE (I) LIMITED,INDORE vs. DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL), INDORE

In the result, all the 12 appeals filed at the instance of

Bench: Shri Kul Bharat & Shri Manish Borad

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1). (4) The provisions of sections 274 and 275 shall, so far as may be, apply in relation to the penalty referred to in this section. Explanation.—For the purposes of this section,— (a) "undisclosed income" means— (i) any income

PREM CHAWLA,BHOPAL vs. ASSISTANT COMMISSIONER OF INCOME TAX-1(1), BHOPAL, BHOPAL

Appeals of the assessee are allowed mutatis mutandis

Bench: Shri Bhagirath Mal Biyani & Shri Paresh M Joshimember

10. It is submitted that the provision of Section 271(1)(c) together with Explanation 5(A) brings the assessee liable for imposition of penalty in Page 26 of 29 Prem Chawla & other ITA Nos. 673 to 684/Ind/2024 & 755/Ind/2024– AY 2000-2001to 2006-07 respect of additional income, which has been offered following the search and the Assessing Officer

PREM CHAWLA LEGAL HEIR OF LATE SMT. SUDESH CHAWLA,BHOPAL vs. ASSISTANT COMMISSIONER OF INCOME TAX-1(1), BHOPAL, BHOPAL

Appeals of the assessee are allowed mutatis mutandis

Bench: Shri Bhagirath Mal Biyani & Shri Paresh M Joshimember

10. It is submitted that the provision of Section 271(1)(c) together with Explanation 5(A) brings the assessee liable for imposition of penalty in Page 26 of 29 Prem Chawla & other ITA Nos. 673 to 684/Ind/2024 & 755/Ind/2024– AY 2000-2001to 2006-07 respect of additional income, which has been offered following the search and the Assessing Officer

PREM CHAWLA LEGAL HEIR OF LATE SMT. SUDESH CHAWLA,BHOPAL vs. ASSISTANT COMMISSIONER OF INCOME TAX-1(1), BHOPAL, BHOPAL

Appeals of the assessee are allowed mutatis mutandis

Bench: Shri Bhagirath Mal Biyani & Shri Paresh M Joshimember

10. It is submitted that the provision of Section 271(1)(c) together with Explanation 5(A) brings the assessee liable for imposition of penalty in Page 26 of 29 Prem Chawla & other ITA Nos. 673 to 684/Ind/2024 & 755/Ind/2024– AY 2000-2001to 2006-07 respect of additional income, which has been offered following the search and the Assessing Officer

PREM CHAWLA LEGAL HEIR OF LATE SMT. SUDESH CHAWLA,BHOPAL vs. ASSISTANT COMMISSIONER OF INCOME TAX-1(1), BHOPAL, BHOPAL

Appeals of the assessee are allowed mutatis mutandis

Bench: Shri Bhagirath Mal Biyani & Shri Paresh M Joshimember

10. It is submitted that the provision of Section 271(1)(c) together with Explanation 5(A) brings the assessee liable for imposition of penalty in Page 26 of 29 Prem Chawla & other ITA Nos. 673 to 684/Ind/2024 & 755/Ind/2024– AY 2000-2001to 2006-07 respect of additional income, which has been offered following the search and the Assessing Officer

MUKESH KUMAR RANKA,INDORE, MADHYA PRADESH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, UJJAIN, MADHYA PRADESH

Appeals are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

271(1)(c) deals with the imposition of penalty in cases where the assessee has concealed the particulars of his income or furnished inaccurate particulars of such income. The provisions of this section further elaborate on what it means to have concealed the particulars of income or to have furnished inaccurate particulars of such income. (iii) Section 271AAB deals specifically

MUKESH KUMAR RANKA,INDORE, MADHYA PRADESH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, UJJAIN, UJJAIN, MADHYA PRADESH

Appeals are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

271(1)(c) deals with the imposition of penalty in cases where the assessee has concealed the particulars of his income or furnished inaccurate particulars of such income. The provisions of this section further elaborate on what it means to have concealed the particulars of income or to have furnished inaccurate particulars of such income. (iii) Section 271AAB deals specifically

ANJU JAIN, LR SHRI SUSHIL JAIN ,INDORE, MADHYA PRADESH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, UJJAIN, UJJAIN, MADHYA PRADESH

Appeals are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

271(1)(c) deals with the imposition of penalty in cases where the assessee has concealed the particulars of his income or furnished inaccurate particulars of such income. The provisions of this section further elaborate on what it means to have concealed the particulars of income or to have furnished inaccurate particulars of such income. (iii) Section 271AAB deals specifically

ANJU JAIN, LR SUSHIL JAIN,INDORE, MADHYA PRADESH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, UJJAIN, UJJAIN, MADHYA PRADESH

Appeals are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

271(1)(c) deals with the imposition of penalty in cases where the assessee has concealed the particulars of his income or furnished inaccurate particulars of such income. The provisions of this section further elaborate on what it means to have concealed the particulars of income or to have furnished inaccurate particulars of such income. (iii) Section 271AAB deals specifically

SHRI DIPAK KALANI,INDORE vs. THE JCIT,OSD, (CENTRAL)-1, INDORE

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year:2012-13

u/s 271(1)(c) of the Act for the concealment of income or furnishing of inaccurate particulars of income. It does not talk anything about various clauses of section 271AAB of the Act for levying penalty @10

SHRI PANKAJ KALANI,INDORE vs. THE JCIT, OSD (CENTRAL)-1, INDORE

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year:2012-13

u/s 271(1)(c) of the Act for the concealment of income or furnishing of inaccurate particulars of income. It does not talk anything about various clauses of section 271AAB of the Act for levying penalty @10

PREM CHAWLA,BHOPAL vs. ASSISTANT COMMISSIONER OF INCOME TAX-1(1), BHOPAL, BHOPAL

Appeals of the assessee are allowed mutatis mutandis

10 of 29\nPrem Chawla & other\nITA Nos.673 to 684/Ind/2024 & 755/Ind/2024- AY 2000-2001to 2006-07\norder did not accept the contention of the assessee because the\nassessee himself has accepted that payment of Rs.4,29,875/-\nhas been made out of the books and hence addition of\nRs.4,29,875/- was made. A satisfaction that penalty\nproceedings u/s

PREM CHAWLA,BHOPAL vs. ASSISTANT COMMISSIONER OF INCOME TAX-1(1), BHOPAL, BHOPAL

Appeals of the assessee are allowed mutatis mutandis

10 of 29\nPrem Chawla & other\nITA Nos.673 to 684/Ind/2024 & 755/Ind/2024-AY 2000-2001to 2006-07\norder did not accept the contention of the assessee because the\nassessee himself has accepted that payment of Rs.4,29,875/-\nhas been made out of the books and hence addition of\nRs.4,29,875/- was made. A satisfaction that penalty\nproceedings u/s 271

SHRI AMIT TIWARI,INDORE vs. THE DCIT (CENTRAL)-2, INDORE

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year:2015-16

u/s 292BB of the Act. Therefore, we hereby quash the penalty order.” [Emphasis Supplied] 1.4.4] The Hon’ble ITAT Chennai Bench in the case of DCIT Vs. Shri R. Elangovan [ITA No. 1199/CHNY/2017] has categorically held that: “5…………..It is clear from the Sub Section (3) of Section 271 AAB that Sections 274 and Section 275 of the Act shall

DR. BRAJBALA TIWARI,INDORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL -1, INDORE

In the result the legal ground of the assessee in for years

Bench: Hon'Ble’Ble Shri Kul Bharat & Hon'Ble’Ble Shri Manish Borad

u/s 271(1)(c) of the Act at Rs. 50,000/-, Rs.2,10,000/- and Rs.2,60,000/-. 8. Ld. Counsel for the assessee submitted that as per provisions of Section 271(1)(c) of the Act the penalty