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

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

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

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

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

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

In the result, appeal of the assessee is allowed

14 Shri Raj Kumar Jain, Jaipur. assessee imposed penalty u/s 271AAA—CIT(A) upheld findings of AO—Held, penalty u/s 271AAA is not leviable where assessee specify manner in which an undisclosed income was derived and also substantiate manner—In instant case no query was raised by authorized officer during course of recording of statement of assessee u/s

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

SHRI MOHAMED MOHTRAM FAROOQUI,JHUNJHUNU vs. ACIT, CIRCLE, JHUNJHUNU

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

14) of section 132 applies to a requisition u/s 132A. However, they have ignored that sub- section (4) of section 132 which provides for recording of statement is not applicable to section 132A. Further, Explanation 5 to section 271(1)(c) is applicable only to a search initiated u/s 132. There is no reference of section 132A in Explanation

RAMAKANT SHARMA,JAIPUR vs. ITO, JAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 264/Jp/2017 Assessment Year: 2007-08 Shri Ramakant Sharma, Cuke I.T.O., Vs. S/O- Shri Ramesh Chand Sharma, 1 Ward-3(5), Vimal Kunaj, Vidyut Nagar, Behind Jaipur. Bharat Petrol Pump, Jaipur. Pan No.: Bjrps 5130 A Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Vedant Agarwal (Adv) & Shri Satish Gupta (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri Ambrish Bedi (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 26/11/2020 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 07/12/2020 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 05/12/2016 For The A.Y. 2007-08. Following Grounds Have Been Taken By The Assessee: “1. On The Facts & Circumstances Of The Case & In Law Also Ld. Lower Authorities Grossly Erred In Initiating Reassessment Proceedings U/S 147 Of The Act. 2. On The Facts & Circumstances Of The Case & In Law Also Ld. A.O. Grossly Erred In Resuming Jurisdiction Without Serving Notice U/S 148 On The Appellant Assessee As Notice Issued U/S 148 Was Not Served On The Appellant.

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

SHRI RAM DAS SONKIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

2) No penalty under the provisions of 53[section 270A or] clause (c) of sub-section (1) of section 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

SHRI KRISHNA YADAV,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

Bench: Or At The Time Of Hearing.”

2) No penalty under the provisions of 53[section 270A or] clause (c) of sub-section (1) of section 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

SHRI MANOJ MOONDHRA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

In the result, both the appeals of the assessee are allowed

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1). Section 158BFA(2): (2) The Assessing Officer or the Commissioner (Appeals) in the course of any proceedings under this Chapter, may direct that a person shall pay by way of penalty a sum which shall not be less than the amount

SHRI AJAY AGARWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

In the result, appeal of the assessee is allowed and the appeal of the revenue

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1). Section 158BFA(2): Shri Ajay Agarwal, Kota. (2) The Assessing Officer or the Commissioner (Appeals) in the course of any proceedings under this Chapter, may direct that a person shall pay by way of penalty a sum which shall

SMT. INDIRA AGRAWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

In the result, appeals of the assessee in ITA No

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1). Section 158BFA(2): (2) The Assessing Officer or the Commissioner (Appeals) in the course of any proceedings under this Chapter, may direct that a person shall pay by way of penalty a sum which shall not be less than the amount