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

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

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

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

section 275(1), penalty could have been\nimposed on or before 31.03.2018. Further order of Hon'ble ITAT is dt. 10.04.2018\nand therefore penalty could have been imposed within 6 months from the end of\nthe month in which the order of ITAT is received by the Commissioner which\nexpires on 31.10.2018. In the present case, once the order

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)

penalty on you should not be made under section 271(1)© of the Income Tax Act, 1961. If no one attends this office on the said date of hearing, the case shall be decided on the basis of the material available on records. Yours faithfully, 4 ITA NO.309 & 310/JPR/2025 RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORATION LTD VS DCIT, CIRCLE

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

In the result, appeal of the assessee is partly allowed

20% of cost was towards\ntransferring plant and machinery, it was entitled to benefit u/s 80-\nIA-Assessee had not concealed any fact from authorities-\nTribunal observed that for attracting penalty, mensrea was\nnecessary and also that neither there was suppression of fact or\nmisrepresentation of fact by assessee and, as such, order of penalty\nwas not sustainable

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)

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

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

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

In the result, appeal of the assessee is allowed

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

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.

20,43,429/- for the assessment years 2010-11, 11-12 and 12-13 respectively. The assessee challenged the levy of penalty before the ld. CIT (A) and raised a ground of validity of initiation of penalty as the AO has not specified the default against which the penalty proceedings were initiated by the AO. The ld. CIT (A) deleted

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.

20,43,429/- for the assessment years 2010-11, 11-12 and 12-13 respectively. The assessee challenged the levy of penalty before the ld. CIT (A) and raised a ground of validity of initiation of penalty as the AO has not specified the default against which the penalty proceedings were initiated by the AO. The ld. CIT (A) deleted

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.

20,43,429/- for the assessment years 2010-11, 11-12 and 12-13 respectively. The assessee challenged the levy of penalty before the ld. CIT (A) and raised a ground of validity of initiation of penalty as the AO has not specified the default against which the penalty proceedings were initiated by the AO. The ld. CIT (A) deleted

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

20. Further, our reference was drawn to the decision of the Hon’ble Madhya Pradesh High Court, in case of Pr. CIT vs. Kulwant Singh Bhatia (2018) 304 CTR 103 wherein it was held as under:- Vaibhav Global Ltd. vs. ACIT “Penalty u/s 271(1)(c) validity-Non-specific notice-Penalty notices under section

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

20. Further, our reference was drawn to the decision of the Hon’ble Madhya Pradesh High Court, in case of Pr. CIT vs. Kulwant Singh Bhatia (2018) 304 CTR 103 wherein it was held as under:- Vaibhav Global Ltd. vs. ACIT “Penalty u/s 271(1)(c) validity-Non-specific notice-Penalty notices under section

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(23C)(iiiad) – Search was conducted in the group case of assessee – notice issued u/s 153C – returned file in response thereto – assessment completed u/s 153A on the returned loss – assessment

NARAYAN HEIGHTS & TOWERS,JAIPUR vs. ITO, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: The Hearing Of Appeal.”

u/s 274 of the Act should specifically state as to whether penalty is being proposed for concealment of particulars of income or inaccurate particulars of income. In the present case notice under section 274 dated 25/3/2015 enclosed at paper book page 16 reads as under: “Penalty Notice Under Section 274, Read with Section 271

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

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

20. In this factual background, it was submitted by the ld AR that assessee carried the matter in appeal before the ld. CIT(A) who has since deleted the penalty. The ld. AR submitted that the ld. CIT(A) has rightly deleted the penalty given the following reasons namely explanation 5A to section 271(1)(c) is not applicable

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

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 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,— 16 M/s Rambhajo

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

In the result, appeal of the assessee is allowed

20 Crores during course of search and post search proceedings on basis of seized material found during course of search— It was further noted by AO that provisions of section 271AAA were applicable with respect to undisclosed income found during course of search and declared by assessee in her return of income for assessment year 2010- 11— AO initiated penalty