ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR vs. JITENDRA KUMAR AGARWAL, JAIPUR

In the result, the appeals filed by the Revenue are dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

penalty u/s 271(1)(c) can be imposed in as much as a comparison has to be made between the return of income filed u/s 153 A viz-a-viz the assessed income.However, the facts ITA No. 267, 196 & 197/JPR/2024 19 Shri Nath Corporation & Ors., Jaipur. of the present case are on much stronger footing because the assessee admitted additional

ASSISTANT COMMISSIONER OF INCOME TA , JAIPUR vs. SHRI NATH CORPORATION, JAIPUR

In the result, the appeals filed by the Revenue are dismissed

penalty u/s 271(1)(c) can be imposed in as much as a comparison has to be made between the return of income filed u/s 153 A viz-a-viz the assessed income.However, the facts\nof the present case are on much stronger footing because the assessee admitted additional

ASSISTANT COMMISSIONER OF INCOME-TAX, JAIPUR vs. ROYAL JEWELLERS, JAIPUR

In the result, the appeals filed by the Revenue are dismissed

u/s 153A), can by itself be treated as concealment warranting addition\nor penalty. The issue which is there in the appeal was already decided by the\nHon'ble Delhi High Court in Commissioner of Income Tax vs. M/s SAS\nPharmaceuticals [2011] 335 ITR 259 (Delhi) wherein the High Court\nobserved that Section 271

M/S RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORATION LTD.,JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

In the result, both the appeals of the assessee are allowed as indicated\nhereinabove

additions\nmade to the total income of the assessee from para no. (3) to (10) of the order\nabove on account of claim of expenditure for State Renewal Fund, prior period\nexpenditure, contribution to CDOS, incorrect claim of deduction u/s 801A &\ndisallowance u/s 14A. Penalty proceedings u/s 271

M/S RAJASTHAN STATE INDUSTRIAL DEVELOPMENT AND INVESTMENT CORPORATION LTD.,JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

In the result, both the appeals of the assessee are allowed as indicated hereinabove

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

additions made to the total income of the assessee from para no. (3) to (10) of the order above on account of claim of expenditure for State Renewal Fund, prior period expenditure, contribution to CDOS, incorrect claim of deduction u/s 80IA & disallowance u/s 14A. Penalty proceedings u/s 271

RAKESH KUMAR JAIN,JAIPUR vs. DCIT,CIRCLE-2, JAIPUR, JAIPUR

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

Bench: Or At The Time Of Hearing Of The Appeal & / Or Modify Any Of The Above Grounds.

271(1)(c) was issued for concealing the particulars of income or furnishing inaccurate particulars of income, where as penalty was levied for furnishing inaccurate particulars of income. 1. At the time of passing the assessment order on 18.04.2017, the AD after discussing the addition made by him, stated Penalty proceedings u/s

BITTHAL DAS PARWAL,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3 , JAIPUR

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

Bench: Him. 2. In This Appeal, The Assessee Has Raised The Following Grounds: -

additional income offered in the return filed u/s 1534 because of some discrepancy and error would not amount to concealment of income or furnishing inaccurate particulars of income attracting levy of penalty u/s 271

SUPERFINE HOTELS PRIVATE LIMITED,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6,, JAIPUR

In the result, appeal of the assessee is partly allowed

penalty for furnishing of\ninaccurate particulars of income.\n8.3 If an addition is made by the AO then said action of the AO may\nlead to either furnishing of inaccurate particulars of income by the\nassessee or concealment of the particulars of income and therefore in such\na situation if the AO proposed to initiate the proceedings u/s 271

R P WOOD PRODUCTS PVT LTD ,NAYA BAZAR AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

In the result, appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

addition of Rs 2,07,96,754/ is hereby made on account of undisclosed commission sales and added to the total income of the assessee for A.Y.2018-19. Penalty proceedings u/s 271AAB(1A) of the Income Tax Act 1961, are being initiated separately. 5. For initiating penalty proceedings u/s 271AAB(1A) of the Income Tax Act, no reasons were given

RAJ KUMAR JAIN,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE – 2, JAIPUR, JAIPUR

In the result, appeal of the assessee is allowed

penalty. Income declared by the assessee in the return of income accepted with minor variation. There cannot be any concealment prior to filing of return. Question of considering whether assessee is liable for action u/s 271(1)(c) would arise only when return of income is scrutinized by Assessing Officer and he finds some more items of income or additional

MANGI LAL KANDOI ,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE – 2, JAIPUR, JAIPUR

In the result, appeal of the assessee is partly allowed

addition of Rs. 3,25,50,000/- which comes to Rs. 99,63,190 /- as against Rs. 1,86,67,200/- The Learned Assessing Officer while completing the assessment u/s 143(3) r.w.s. 153A & r.w.s. 245HA of of the Income Tax Act, 1961 initiated penalty proceedings u/s 271AAB of the Income Tax Act, 1961 observing as under: - 17 Mangi

DCIT, CENTRAL CIRCLE-2, JAIPUR, CENTRAL CIRCLE-2 JAIPUR vs. SHRI PRAKASH CHAND SHARMA, C-42, GOKUL PATH VAISHALI NAGAR, JAIPUR, JAIPUR

In the result, appeals of the revenue are dismissed

Bench: Ao On The Charge Of Concealment Of Income.

penalty of Rs. 53,78,285/- imposed u/s 271(1)(c) of the Act ignoring the fact that the assessee himself declared additional income

DCIT, CENTRAL CIRCLE-2, JAIPUR, CENTRAL CIRCLE-2 JAIPUR vs. SHRI PRAKASH CHAND SHARMA, C-42, GOKUL PATH VAISHALI NAGAR, JAIPUR, JAIPUR

In the result, appeals of the revenue are dismissed

Bench: Ao On The Charge Of Concealment Of Income.

penalty of Rs. 53,78,285/- imposed u/s 271(1)(c) of the Act ignoring the fact that the assessee himself declared additional income

DCIT, CENTRAL CIRCLE-2, JAIPUR, CENTRAL CIRCLE-2 JAIPUR vs. SHRI PRAKASH CHAND SHARMA, C-42, GOKUL PATH VAISHALI NAGAR, JAIPUR, JAIPUR

In the result, appeals of the revenue are dismissed

Bench: Ao On The Charge Of Concealment Of Income.

penalty of Rs. 53,78,285/- imposed u/s 271(1)(c) of the Act ignoring the fact that the assessee himself declared additional income

DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR vs. SHRI KAMAL SETHIA, JAIPUR

In the result, both the appeals filed by the Revenue are dismissed

addition in the income of the assessee and income as per return filed in response to notice u/s 153A was accepted. Separately, the Assessing Officer initiated penalty proceedings u/s 271

M/S. RAMBHOJO'S,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR

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

271(l)(c) when: 'the initiation of the penalty proceeding was for concealment of the particulars of income. But the Tribunal finally held that the assessee would be deemed to have concealed the particulars of income or to have furnished inaccurate particulars of such income.' 19. Thus it is evident that when the AO is satisfied at the stage

VAIBHAV GLOBAL LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5, JAIPUR

In the result, the penalty is directed to be deleted and appeal of the assessee is allowed

income'. Now the question arises if the penalty is sustainable in such circumstances? Vaibhav Global Ltd. vs. ACIT 10. At this juncture, it is pertinent to note that penalty proceedings are distinct from the assessment proceedings. Merely because an addition has been made or confirmed in the assessment, does not, per se, lead to imposition of penalty u/s. 271

VAIBHAV GLOBAL LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5, JAIPUR

In the result, the penalty is directed to be deleted and appeal of the assessee is allowed

income'. Now the question arises if the penalty is sustainable in such circumstances? Vaibhav Global Ltd. vs. ACIT 10. At this juncture, it is pertinent to note that penalty proceedings are distinct from the assessment proceedings. Merely because an addition has been made or confirmed in the assessment, does not, per se, lead to imposition of penalty u/s. 271