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

reassessment cannot be declared as invalid in the penalty proceedings.” In the light of the above judgment we are unable to affirm the action of the authorities below. As the initiation of penalty under section 271(1)(c) vide notice 274 of the Act is not inconformity with the requirement of the law. Thus, the Penalty order

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

6. Careful reading of section 271AAB of the Act, the words used are ‘AO may direct’ and ‘the assessee shall pay by way of penalty’. Similar words are used section 158BFA(2) of the Act. The word may direct indicates the discretion to the AO. Further, sub section (3) of section 271AAB of the Act, fortifies this view. Sub section

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

6. Careful reading of section 271AAB of the Act, the words used are ‘AO may direct’ and ‘the assessee shall pay by way of penalty’. Similar words are used section 158BFA(2) of the Act. The word may direct indicates the discretion to the AO. Further, sub section (3) of section 271AAB of the Act, fortifies this view. Sub section

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

6. Careful reading of section 271AAB of the Act, the words used are ‘AO may direct’ and ‘the assessee shall pay by way of penalty’. Similar words are used section 158BFA(2) of the Act. The word may direct indicates the discretion to the AO. Further, sub section (3) of section 271AAB of the Act, fortifies this view. Sub section

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

6. Careful reading of section 271AAB of the Act, the words used are ‘AO may direct’ and ‘the assessee shall pay by way of penalty’. Similar words are used section 158BFA(2) of the Act. The word may direct indicates the discretion to the AO. Further, sub section (3) of section 271AAB of the Act, fortifies this view. Sub section

SHRI GAURAV SHARMA,BHOPAL vs. THE ACIT 1(1), BHOPAL

In the result, all the six appeals of the assessee

Bench: Shri Kul Bharat & Shri Manish Borad

6. On the other hand, the learned DR vehemently argued submitting that the coordinate Bench has already held that the addition in the hands of the assessee is on substantive basis. Therefore, the penalty levied is justified. However, the ld. DR could not contradict the submissions of the assessee with regard to legality of the notice issued u/s 274 r.w.s

SHRI GAURAV SHARMA,BHOPAL vs. THE ACIT 1(1), BHOPAL

In the result, all the six appeals of the assessee

Bench: Shri Kul Bharat & Shri Manish Borad

6. On the other hand, the learned DR vehemently argued submitting that the coordinate Bench has already held that the addition in the hands of the assessee is on substantive basis. Therefore, the penalty levied is justified. However, the ld. DR could not contradict the submissions of the assessee with regard to legality of the notice issued u/s 274 r.w.s

SHRI GAURAV SHARMA,BHOPAL vs. THE ACIT 1(1), BHOPAL

In the result, all the six appeals of the assessee

Bench: Shri Kul Bharat & Shri Manish Borad

6. On the other hand, the learned DR vehemently argued submitting that the coordinate Bench has already held that the addition in the hands of the assessee is on substantive basis. Therefore, the penalty levied is justified. However, the ld. DR could not contradict the submissions of the assessee with regard to legality of the notice issued u/s 274 r.w.s

SHRI GAURAV SHARMA,BHOPAL vs. THE ACIT 1(1), BHOPAL

In the result, all the six appeals of the assessee

Bench: Shri Kul Bharat & Shri Manish Borad

6. On the other hand, the learned DR vehemently argued submitting that the coordinate Bench has already held that the addition in the hands of the assessee is on substantive basis. Therefore, the penalty levied is justified. However, the ld. DR could not contradict the submissions of the assessee with regard to legality of the notice issued u/s 274 r.w.s

SHRI GAURAV SHARMA,BHOPAL vs. THE ACIT 1(1), BHOPAL

In the result, all the six appeals of the assessee

Bench: Shri Kul Bharat & Shri Manish Borad

6. On the other hand, the learned DR vehemently argued submitting that the coordinate Bench has already held that the addition in the hands of the assessee is on substantive basis. Therefore, the penalty levied is justified. However, the ld. DR could not contradict the submissions of the assessee with regard to legality of the notice issued u/s 274 r.w.s

SHRI GAURAV SHARMA,BHOPAL vs. THE ACIT 1(1), BHOPAL

In the result, all the six appeals of the assessee

Bench: Shri Kul Bharat & Shri Manish Borad

6. On the other hand, the learned DR vehemently argued submitting that the coordinate Bench has already held that the addition in the hands of the assessee is on substantive basis. Therefore, the penalty levied is justified. However, the ld. DR could not contradict the submissions of the assessee with regard to legality of the notice issued u/s 274 r.w.s

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

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

6,25,000/- under section 271AAA of the Income-Tax Act, 1961 deserves to be quashed. 1.4.1] The aforesaid issue is squarely covered in favour of the appellant by the decision of the Hon’ble ITAT Chandigarh Bench in the case of Gillco Developers and Builders (P.) Ltd. v. DCIT, Central Circle-II, Chandigarh as reported in [2017] 85 taxmann.com

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

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

6,25,000/- under section 271AAA of the Income-Tax Act, 1961 deserves to be quashed. 1.4.1] The aforesaid issue is squarely covered in favour of the appellant by the decision of the Hon’ble ITAT Chandigarh Bench in the case of Gillco Developers and Builders (P.) Ltd. v. DCIT, Central Circle-II, Chandigarh as reported in [2017] 85 taxmann.com

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

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

6,83,498/- under section 271AAB of the Income-Tax Act, 1961 deserves to be quashed. 1.4.1] The aforesaid issue is duly covered in the favour of the appellant by the recent judgments of the Hon’ble ITAT, Indore Bench wherein it has been categorically held that the show cause notice which is not in accordance with the mandates

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

section 43(6)(c)(ii) & (i), the only adjustments permitted in the WDV of the block with reference to the year in which depreciation is to be allowed are (a) addition actual cost of asset acquired during the year and (b) reduction of monies receivable on sale, discarding, demolition or destruction of the assets and its scrap value

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

section 43(6)(c)(ii) & (i), the only adjustments permitted in the WDV of the block with reference to the year in which depreciation is to be allowed are (a) addition actual cost of asset acquired during the year and (b) reduction of monies receivable on sale, discarding, demolition or destruction of the assets and its scrap value

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

section 43(6)(c)(ii) & (i), the only adjustments permitted in the WDV of the block with reference to the year in which depreciation is to be allowed are (a) addition actual cost of asset acquired during the year and (b) reduction of monies receivable on sale, discarding, demolition or destruction of the assets and its scrap value

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

section 43(6)(c)(ii) & (i), the only adjustments permitted in the WDV of the block with reference to the year in which depreciation is to be allowed are (a) addition actual cost of asset acquired during the year and (b) reduction of monies receivable on sale, discarding, demolition or destruction of the assets and its scrap value