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)

14,976/- u/s 271(1)(c) of the Income Tax Act, 1961 ignoring the fact that the penalty was levied for concealing the income of Rs.3,94,67,426/- which was detected during the survey proceedings u/s 133A of the I.T. Act?" 3.2 In ITA No. 196/JPR/2024, the Revenue has raised the following grounds of appeal:- “1. Whether

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

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

Section 271(1)(c), penalty is not leviable since the assessee has paid the taxes thereon in the Return of Income filed u/s.\n139(1) of the Act. This view of our is supported by the Co-ordinate Benches of the Tribunal in the case of CIT vs. Jupiter Distillery [2012] 23 taxmann.com 303 (Ahmedabad - Trib.) and in the case

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

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

Section 271(1)(c), penalty is not leviable\nsince the assessee has paid the taxes thereon in the Return of Income filed u/s.\n139(1) of the Act. This view of our is supported by the Co-ordinate Benches of the\nTribunal in the case of CIT vs. Jupiter Distillery [2012] 23 taxmann.com 303\n(Ahmedabad - Trib

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)

14-15) Where penalty notice issued against assessee was not adverted to any specific limb of section 271(1)(c), thus, Assessing Officer was not clear whether he intended to levy a penalty on assessee for concealment of particulars of his income or furnishing inaccurate particulars, Tribunal was justified in quashing penalty proceedings u/s 271(1)(c) initiated against assessee

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

14-15)\nWhere penalty notice issued against assessee was not adverted to any specific limb of\nsection 271(1)(c), thus, Assessing Officer was not clear whether he intended to levy a\npenalty on assessee for concealment of particulars of his income or furnishing inaccurate\nparticulars, Tribunal was justified in quashing penalty proceedings u/s 271(1)(c) initiated\nagainst assessee

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.

section 271(1)(c) the assessee is found guilty of furnishing of inaccurate particulars of income to the extent of amount of Rs 1,14,75,790/- For that reason, I am satisfied that the assessee has committed default uls 271(1)(c) of the IT Act and therefore, penalty u/s 271(t)(c) is imposed on the furnishing

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

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(1)(c) of the Act for the concealment of income or furnishing of inaccurate particulars of income. Except mentioning the Section 271AAB of the Act in the notice it does not talk anything about the other mandatory conditions of section 271AAB. Certainly such notice has a fatal error and technically is not a correct notice in the eyes

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)

2) Kolkatta held as under: “ 8. We have heard rival contentions. On careful consideration of the facts and circumstances of the case, perusal of the papers on record, orders of the authorities below as well as case law cited, we hold as follows: 9. The notice issued u/s 274 r.w.s. 271 on 31.03.215 by the Assessing Officer has been extracted

SHRI RAI SINGH SIHAG,JAIPUR vs. INCOME TAX OFFICER, WARD-3-1, JAIPUR

In the result, this appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 441/Jp/2019 Assessment Year: 2007-08 Shri Rai Singh Sihag, Cuke I.T.O. Vs. B-105, Vaishali Nagar, Ward- 3(1), Jaipur. Jaipur. Pan No.: Bgvps 4485 F Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Ashok Kr. Gupta & Shri S.L. Jain (Advs.) Jktlo Dh Vksj Ls@ Revenue By :Shri A.S. Nehra (Addl.Cit) Lquokbz Dh Rkjh[K@ Date Of Hearing : 02/11/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 15/11/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Cit(A)-1, Jaipur Dated 13/07/2017 For The A.Y. 2007-08. Following Grounds Have Been Taken By The Assessee: “1. The Reasons For Reopening Of The Assessment Not Valid :- That On The Facts & In The Circumstances Of The Case Ld. Ao Has Grossly Erred In Law & Facts In Invoking Action U/S 147.The Notice For Reassessment Is So Hastily Issued Without Examining The Correct Factual & Legal Position. The Action For Reassessment Is Often Made Without Application Of Mind Fairly & Objectively The Ao. Lakhmani Mewal Das 103 Itr 437 (Sc)

271(1)(C), 271A and 271B. Section 158 BFA provides for levy of interest and penalty in cases of search on or after January 1, 1997. Section 158 BG specifies the authorities competent to make the block assessment. Section 158 BH provides for application of all the other provisions of this Act, except those as provided in Chapter

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

14,09,150/-. While framing assessment, penalty\nproceedings under section 271(1)(c) of the Act for furnishing inaccurate\nparticulars of income to the extent of wrong claim of deductions amounting\nto Rs 1,59,000/- under Chapter-VIA of the income-tax Act, wrong claim of\nloss of Rs 70,000/- under the head house property income

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

14,09,150/-. While framing assessment, penalty\nproceedings under section 271(1)(c) of the Act for furnishing inaccurate\nparticulars of income to the extent of wrong claim of deductions amounting\nto Rs 1,59,000/- under Chapter-VIA of the income-tax Act, wrong claim of\nloss of Rs 70,000/- under the head house property income

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

14,09,150/-. While framing assessment, penalty\nproceedings under section 271(1)(c) of the Act for\nfurnishing inaccurate\nparticulars of income to the extent of wrong claim of deductions amounting\nto Rs 1,59,000/- under Chapter-VIA of the income-tax Act, wrong claim of\nloss of Rs 70,000/- under the head house property income

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

14,09,150/-. While framing assessment, penalty\nproceedings under section 271(1)(c) of the Act for furnishing inaccurate\nparticulars of income to the extent of wrong claim of deductions amounting\nto Rs 1,59,000/- under Chapter-VIA of the income-tax Act, wrong claim of\nloss of Rs 70,000/- under the head house property income

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

14,09,150/-. While framing assessment, penalty\nproceedings under section 271(1)(c) of the Act for furnishing inaccurate\nparticulars of income to the extent of wrong claim of deductions amounting\nto Rs 1,59,000/- under Chapter-VIA of the income-tax Act, wrong claim of\nloss of Rs 70,000/- under the head house property income

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)

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1) 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

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

271(1)(c) of the Act for the concealment of income or furnishing of inaccurate particulars of income. Except mentioning the Section 271AAB of the Act in the notice it does not talk anything about the other mandatory conditions of section 271AAB. Certainly such notice has a fatal error and technically is not a correct notice in the eyes

VIJAY KEDIA (HUF),JAIPUR vs. ACIT, JAIPUR

In the result, this appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 1266/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year :2008-09 M/S Vijay Kedia, Cuke A.C.I.T., 1307, Gopal Ji Ka Rasta, Johari Vs. Central Circle-1, Bazar, Jaipur. Jaipur. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aabhv 6449 M Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri S.R. Sharma (Ca)& Shri R.K. Bhatra (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri A.S. Nehra (Addl.Cit) Lquokbz Dh Rkjh[K@ Date Of Hearing : 19/07/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 30/07/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. This Is An Appeal Filed By The Assessee Against The Order Of Ld. Cit(A)- 1, Jaipur Dated 02/09/2019 For The A.Y. 2008-09, Wherein Following Grounds Have Been Taken. “1. That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Is Wrong, Unjust & Has Erred In Law In Not Accepting Plea Of The Appellant That The Notice Issued By The Assessing Officer U/S 271(1)(C) Of The I.T. Act, 1961 Is Wrong & Bad In Law Inasmuch As It Did Not Specify In Which Limb Of Sec. 271(1)(C) Of The Income Tax Act, 1961 The Penalty Proceedings Has Been Initiated I.E. Whether For Concealment Of Income Or Furnishing Of Inaccurate Particulars Of Income.

2(4) Jaipur in ITA No. 1033/JP/2016 has cancelled the penalty by holding that: - "3.2 We have heard the rival contention, perused the material available on record and gone through the orders of the authorities below. For the sake of clarity the relevant contents of the Assessment order are reproduced as under: -" ‘"Penalty u/s 271(1)(c) is separately