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

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

10,463/- which was detected during the survey proceedings u/s 133A of the I.T. Act?\"\n3.3 In ITA No. 197/JPR/2024, the Revenue has raised the following grounds of appeal:-\n\"1. 1. Whether on the facts and circumstances of this case, the Ld. CIT(A) is justified in deleting the penalty of Rs.1,01,50,594/- u/s 271

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)

10,463/- which was detected during the survey proceedings u/s 133A of the I.T. Act?" 3.3 In ITA No. 197/JPR/2024, the Revenue has raised the following grounds of appeal:- “1. 1. Whether on the facts and circumstances of this case, the Ld. CIT(A) is justified in deleting the penalty of Rs. 1,01,50,594/- u/s 271

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

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

10,463/- which was detected during the survey proceedings u/s 133A of\nthe I.T. Act?\"\n3.3 In ITA No. 197/JPR/2024, the Revenue has raised the following\ngrounds of appeal:-\n\"1. 1. Whether on the facts and circumstances of this case, the Ld. CIT(A) is\njustified in deleting the penalty of Rs.1,01,50,594/- u/s 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

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(1)(c) of the I.T. Act have been\ninitiated separately.\"\n\nFrom the above it is clear that AO has not recorded any satisfaction for initiation

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)

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(1)(c) of the I.T. Act have been initiated separately.” From the above it is clear that AO has not recorded any satisfaction for initiation

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

In the result, appeal of the assessee is partly allowed

271(1)(c)\nwere satisfied or fulfilled so as to justify imposition of penalty-\nTribunal merely followed dictum of Supreme Court in several\ndecisions and thus penalty was rightly deleted by Tribunal—Penalty\nhas therefore been rightly deleted-Such a finding essentially based on\nfacts and circumstances peculiar to assessee, does not raise any\nsubstantial question of law-Court directed

GHANSHYAM TAK,NAYA GHAR AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

In the result, appeal of the assessee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

10 has held as under :- “ It is clear from the Sub Section (3) of Section 271 AAB that Sections 274 and Section 275 of the Act shall, so far as may be, apply. Sub Section (1) of Section 274 of the Act mandates that order imposing penalty has to be imposed only after hearing the assessee or giving a assessee

R P WOOD PRODUCTS PRIVATE LIMITED,AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

In the result, appeal of the assessee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

10 has held as under :- “ It is clear from the Sub Section (3) of Section 271 AAB that Sections 274 and Section 275 of the Act shall, so far as may be, apply. Sub Section (1) of Section 274 of the Act mandates that order imposing penalty has to be imposed only after hearing the assessee or giving a assessee

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

In the result, appeal of the assessee is allowed

10 has held as under :- “ It is clear from the Sub Section (3) of Section 271 AAB that Sections 274 and Section 275 of the Act shall, so far as may be, apply. Sub Section (1) of Section 274 of the Act mandates that order imposing penalty has to be imposed only after hearing the assessee or giving a assessee

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 u/s 271(1)(c) in a search assessment, the original return of income filed u/s 139 cannot be considered, is wholly incorrect and is in direct contradiction to the mandate of explanation 5A to section 271(1)(c) of the Act. 10

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 u/s 271(1)(c) in a search assessment, the original return of income filed u/s 139 cannot be considered, is wholly incorrect and is in direct contradiction to the mandate of explanation 5A to section 271(1)(c) of the Act. 10

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 u/s 271(1)(c) in a search assessment, the original return of income filed u/s 139 cannot be considered, is wholly incorrect and is in direct contradiction to the mandate of explanation 5A to section 271(1)(c) of the Act. 10

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

section 271 (1) (c) are mentioned or where show cause notice u/s 271 (1) (c) for imposing of penalty without specifying the limb for reasons to impose penalty whether for concealment of income or furnish inaccurate particulars of income is not as per law and assessing officer did not have any jurisdiction to impose 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

section 271 (1) (c) are mentioned or where show cause notice u/s 271 (1) (c) for imposing of penalty without specifying the limb for reasons to impose penalty whether for concealment of income or furnish inaccurate particulars of income is not as per law and assessing officer did not have any jurisdiction to impose penalty u/s 271

RAMESH CHAND BANSAL,BEAWAR vs. DCIT, AJMER

In the result, the appeals of the assessee are allowed

section 274 – seeking to impose penalty u/s 271 (1)(c) – contents of the notice – requirements of. Assessee is a trust and running a school – income of assessee is exempt u/s 10

SHRI RAM DAS MAHESHWARI,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

10 to 13. (ii) In the assessment order the Learned Assessing Officer also did not initiated penalty proceeding with reference to any specific clause (a) to (c) of section 271AAB(1). (iii) The notice issued u/s 274 read with section 271

SHRI ASHOK KUMAR MAHESHWARI,JAIPUR vs. PR. COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

10% or 30%. Thus in the face of unlawful initiation of penalty proceedings and when such assessment order from where such unlawful initiation of penalty proceeding emanated still exists, the direction of the Ld. PCIT to impose penalty afresh u/s 271AAB(1)(c) is unlawful and illegal. In fact what was required on the part

NARAYAN HEIGHTS & TOWERS,JAIPUR vs. ITO, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: The Hearing Of Appeal.”

10). The ld AO initiated penalty by mentioning that:- “As the assessee has concealed/furnished the inaccurate particulars of income therefore, penalty u/s 271(1)(c) is also initiated”. Notice u/s 274 3 Narayana Heights & Tower. Further in the penalty notice u/s 274 read with section