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. To bolster this submission, the learned counsel for the assessee took refuge of Explanation 5 and Explanation 5A of Section 271 of the Act and submitted that these Explanations provide that in cases of search by way of deeming fiction, the liability towards penalty has been prescribed even in cases where the return of income for such year

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)

26 Shri Ghanshyam Tak, Ajmer. (b) a sum computed at the rate of sixty per cent of the undisclosed income of the specified previous year, if it is not covered under the provisions of clause (a).] (2) No penalty under the provisions of 53[section 270A or] clause (c) of sub-section (1) of section 271 shall be imposed upon

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)

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1) 52[or sub-section (1A)]. (3) The provisions of sections 274 and 275 shall, as far as may be, apply in relation to the penalty referred to in this section. Explanation.—For the purposes of this section,— (a) "specified date" means

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.

26,00,000/- u/s 271(1)(c) of the Income Tax Act. 1961 On appeal against the penalty proceedings, the Ld.CIT(A) confirmed the penalty dismissing the appeal of the assessee stating that the assessee failed to comply to various notices issued by NFAC, whereas none of the notices was ever served on the assessee Brief facts of the case

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)

10 /20 / 30% since the assessee falls in Clauses (a) / (b) / (c) of section 271AAB of the Act. He should have further mentioned that as the assessees case falls under clause-c of section 271AAB of the Act, why she should not be visited by penalty @ 30% of the undisclosed income. Against this charge the assessee should have been given

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed, and the

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

26,176/- 10 1175/JP/2025 2020-21 19.06.2025 Levy of penalty u/s 271E of the Act vide order dated 28.08.2023 for an 3 M/s Gokul Kripa Colonisers & Developers Pvt. Ltd. amount of Rs. 6,52,43,524/- 11 1176/JP/2025 2020-21 19.06.2025 Levy of penalty u/s 271D of the Act vide order dated 28.08.2023 for an amount

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed, and the

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

26,176/- 10 1175/JP/2025 2020-21 19.06.2025 Levy of penalty u/s 271E of the Act vide order dated 28.08.2023 for an 3 M/s Gokul Kripa Colonisers & Developers Pvt. Ltd. amount of Rs. 6,52,43,524/- 11 1176/JP/2025 2020-21 19.06.2025 Levy of penalty u/s 271D of the Act vide order dated 28.08.2023 for an amount

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

section 153A, of the Income-tax Act, 1961 - Penalty\nFor concealment of income - Assessment year 2004-05 - Whether for purpose\nof imposition of penalty u/s 271(1)(c) resulting as a result of search assessments\nmade u/s 153A, original return of income filed u/s 139 cannot be considered\nHeld, yes - Whether concealment of income has to be seen with reference

AJOY SHARMA,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

section 153A, of the Income-tax Act, 1961 - Penalty\nFor concealment of income - Assessment year 2004-05 - Whether for purpose\nof imposition of penalty u/s 271(1)(c) resulting as a result of search assessments\nmade u/s 153A, original return of income filed u/s 139 cannot be considered\nHeld, yes - Whether concealment of income has to be seen with reference

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

section 153A, of the Income-tax Act, 1961 - Penalty\nFor concealment of income - Assessment year 2004-05 - Whether for purpose\nof imposition of penalty u/s 271(1)(c) resulting as a result of search assessments\nmade u/s 153A, original return of income filed u/s 139 cannot be considered\nHeld, yes - Whether concealment of income has to be seen with reference

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

section 153A, of the Income-tax Act, 1961 - Penalty\nFor concealment of income - Assessment year 2004-05 - Whether for purpose\nof imposition of penalty u/s 271(1)(c) resulting as a result of search assessments\nmade u/s 153A, original return of income filed u/s 139 cannot be considered\nHeld, yes - Whether concealment of income has to be seen with reference

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

section 153A, of the Income-tax Act, 1961 - Penalty\nFor concealment of income - Assessment year 2004-05 - Whether for purpose\nof imposition of penalty u/s 271(1)(c) resulting as a result of search assessments\nmade u/s 153A, original return of income filed u/s 139 cannot be considered\nHeld, yes - Whether concealment of income has to be seen with reference

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

26,176/-\n10\n1175/JP/2025\n2020-21\n19.06.2025\nLevy of penalty u/s 271E of the Act\nvide order dated 28.08.2023 for an\n11\n1176/JP/2025\n2020-21\n19.06.2025\namount of Rs.6,52,43,524/-\nLevy of penalty u/s 271D of the Act\nvide order dated 28.08.2023 for an\namount of Rs.8,33,67,454/-\n12\n1177/JP/2025\n2021-22\n19.06.2025\nLevy of penalty

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

26,176/-\n10\n1175/JP/2025\n2020-21\n19.06.2025\nLevy of penalty u/s 271E of the Act\nvide order dated 28.08.2023 for an\namount of Rs.6,52,43,524/-\n11\n1176/JP/2025\n2020-21\n19.06.2025\nLevy of penalty u/s 271D of the Act\nvide order dated 28.08.2023 for an\namount of Rs.8,33,67,454/-\n12\n1177/JP/2025\n2021-22\n19.06.2025\nLevy of penalty

SHRI ANIL GHATIWALA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeal of the assessee is partly allowed

10%, 20% or 30% depending on the fulfillment of certain conditions therein. It was submitted that all the conditions specified in Section 271AAB have been fulfilled in the instant case, therefore, the penalty U/s 271AAB being in the nature of mandatory penalty and there being no discretion with the Income tax authorities, the penalty so imposed

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

26,176/-\n10\n1175/JP/2025\n2020-21\n19.06.2025\nLevy of penalty u/s 271E of the Act\nvide order dated 28.08.2023 for an\namount of Rs.6,52,43,524/-\n11\n1176/JP/2025\n2020-21\n19.06.2025\nLevy of penalty u/s 271D of the Act\nvide order dated 28.08.2023 for an\namount of Rs.8,33,67,454/-\n12\n1177/JP/2025\n2021-22\n19.06.2025\nLevy of penalty

DCIT CENTRAL CIRCLE AJMER, AJMER vs. YASHWANT KUMAR SHARMA, AJMER

In the result, the appeal of the revenue is dismissed and the cross

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 210/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2020-21 DCIT, Central Circle, Ajmer cuke Vs. Yashwant Kumar Sharma F-108, Industrial Area, Makhupura Parbatpura, Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ASWPS 3791 E vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@C.O. No. 04/JP/2023 (Arising out of ITA Nos. 210/JP/2023) fu/kZkj.k o"kZ@Assessment Years : 2020-21 Yashwant Kumar Sharma

u/s 271AAB is not mandatory but to be imposed on merits of the each case.” Thus the Tribunal has held that the levy of penalty under section 271AAB is not mandatory but the AO has the discretion to take a decision and shall be based on judicious decision of the AO. Hence we fortify our view by the above decisions

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

26,176/-\n10\n1175/JP/2025\n2020-21\n19.06.2025\nLevy of penalty u/s 271E of the Act\nvide order dated 28.08.2023 for an\n11\n1176/JP/2025\n2020-21\n19.06.2025\namount of Rs.6,52,43,524/-\nLevy of penalty u/s 271D of the Act\nvide order dated 28.08.2023 for an\namount of Rs.8,33,67,454/-\n12\n1177/JP/2025\n2021-22\n19.06.2025\nLevy of penalty