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)

section 275(1)(a). Hence the penalty order should have been passed before 31.10.2018 and therefore the penalty order dt.29.03.2019 passed by AO is clearly barred by limitation. 6. On merits it is submitted that the penalty has been imposed by the AO for concealment of income on two issues namely disallowance of CSR expenses and disallowance u/s

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

In the result, appeal of the assessee is partly allowed

Section 271(1)(c).\n4. In the facts and circumstances of the case the Learned CIT(A) has erred\nin confirming the penalty of Rs.5,18,55,995/- u/s 271(1)(c) of the Income\nTax Act, 1961 without considering that the assessee was eligible for\ndepreciation otherwise and the deduction was claimed due to mistake of\ncounsel which

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(1)(c ) of the I.T.Act as well as penalties levied u/s 271AAB of the I.T.Act on the income voluntary disclosed in the returns of income. This decision has also been followed by the Honble ITAT in its decision dated 18.02.2020 in IT(SS) A No 260/AHD /2017 in the case of Lajwantiben M Manglani Vs DCIT Central Circle

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). 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

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

24. It was submitted that the scheme of Explanation 7 to section 271(1)(c) of the IT Act is that the onus on the appellant is only to show that the ALP was computed by the appellant in accordance with the Vaibhav Global Ltd. vs. ACIT scheme of section 92C of the ITA in good faith and due diligence

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

24. It was submitted that the scheme of Explanation 7 to section 271(1)(c) of the IT Act is that the onus on the appellant is only to show that the ALP was computed by the appellant in accordance with the Vaibhav Global Ltd. vs. ACIT scheme of section 92C of the ITA in good faith and due diligence

RAMESH CHAND BANSAL,BEAWAR vs. DCIT, AJMER

In the result, the appeals of the assessee are allowed

section 271AAA. Intention of the legislative in incorporating the provisions contained u/s 271AA effective during the period 1st June, 2007 to 1st July, 2012 is to provide general amnesty in search and seizure cases, and the case of the assessee undisputedly falls u/s 271AAA and cannot be dealt with u/s 271(1)(c) by any stretch of imagination even

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 I.T.Act as well as penalties levied u/s 271AAB of the I.T.Act on the income voluntary disclosed in the returns of income. This decision has also been followed by the Honble ITAT in its decision dated 18.02.2020 in IT(SS) A No 260/AHD /2017 in the case of Lajwantiben M Manglani Vs DCIT Central Circle

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 read with section 274 of the Income Tax Act without specifying the specific default of section 271AAB(1A) of the I.T.Act, i.e either default of clause (a) or default of clause (b) of the said sub section. Prior to the imposition of penalty another stereotyped show cause notice dated 09/02/2022 was issued by the Assessing Officer simply stating that

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

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

24. It was further submitted that the order passed u/s 143(3) r/w section 153A does not specify under which limb the penalty is initiated. Nor does notice u/s 274 do so. It was submitted that for levy of penalty u/s 271

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.

24 RAKESH KUMAR JAIN VS DCIT, CIRCLE-2, JAIPUR It has been held by Hon’ble Court that the notice would have to specifically state the ground mentioned in Section 271 (1)(c) of the Act namely as to whether the penalty was for concealment of income or furnishing of incorrect particulars of the income. Further, issuing printed form/ paper

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

In the result, appeal of the assessee is allowed

271 of the I.T. Act, 1961 on 13/03/2015 wherein the penalty has been initiated “on assessed undisclosed income” as evident from copy of notice scanned at page No. 9 ITA 419/JP/2018_ 21 Shri Ashok Kr. Maheshwari Vs Pr.CIT of this order. The Assessing Officer has not specified under which sub clause of Section the notice has been issued. Thus

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

In the result, appeal of the assessee is allowed

271 of the I.T. Act, 1961 on 13/03/2015 wherein the penalty has been initiated “on assessed undisclosed income” as evident from copy of notice scanned at page No. 9 ITA 421/JP/2018_ 21 Shri Ram Das Maheshwari Vs Pr.CIT of this order. The Assessing Officer has not specified under which sub clause of Section the notice has been issued. Thus

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)

24. Section 275 was substituted by the Taxation Laws (Amendment) Act, 1970, which came into effect from 1-4-1971. The change was explained by the Board vide Circular No. 56, dated 19-3-1971. Significantly, it postulated that section 275 of the Income-tax Act which specified the time-limit for completion of penalty proceedings has been substituted

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)

24. Section 275 was substituted by the Taxation Laws (Amendment) Act, 1970, which came into effect from 1-4-1971. The change was explained by the Board vide Circular No. 56, dated 19-3-1971. Significantly, it postulated that section 275 of the Income-tax Act which specified the time-limit for completion of penalty proceedings has been substituted

M/S. RAMBHOJO'S,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR

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

section 271(l)(c) do not exist as such he is not liable to pay penalty. The Hon'ble High Court went on to hold that: 'Clause (c) deals with two specific offences, that is to say, concealing particulars of income or furnishing inaccurate particulars of income.... But drawing up penalty proceedings for one offence and finding the assessee guilty

SHRI VASUDEV AGRAWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

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

271 are mentioned would not satisfy the requirement of law ; The assessee should know the grounds which he has to meet specifically. Otherwise, the principles of natural justice are offended. On the basis of such proceedings, no penalty could be imposed on the assessee ; ) taking up of penalty proceedings on one limb and finding the assessee guilty of another limb

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

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

271 are mentioned would not satisfy the requirement of law ; The assessee should know the grounds which he has to meet specifically. Otherwise, the principles of natural justice are offended. On the basis of such proceedings, no penalty could be imposed on the assessee ; ) taking up of penalty proceedings on one limb and finding the assessee guilty of another limb