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)

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)

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

KANHIAYA LAL SAIN,JAIPUR vs. JCIT RANGE-7 JAIPUR, JAIPUR

In the result, the Appeals of the appellant stands allowed with no orders as to costs

Bench: SHRI SANDEEP GOSAIN (Judicial Member)

271(1)(c) of the Act, subsequently, reference was made to Addl. CIT to initiate penalty proceedings under section 271D of the Act, the Assessing Officer ought to have been recorded his satisfaction. However, Ld. AO has failed to do so. The same is in violation of CBDT Circular no. 09/DV/2016 dated 26.04.2016 advising Assessing Officer to make a reference

DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR vs. M/S KIRAN FINE JEWELLERS PVT LTD. , JAIPUR

In the result, all the appeals of the revenue are dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

271 & 274-JP-2025 /JP/2024 DCIT vs. Kiran Fine Jewellers Pvt Ltd. only sent a proposal/reference for initiating proceedings u/s 271E in this case to the Additional Commissioner. The Assessing Officer is not empowered to initiate the penalty proceedings u/s 271E. In fact, the penalty proceedings u/s 271E were initiated by him only on 24/02/2022 by issuance of show-cause

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S KIRAN FINE JEWELLERS PVT LTD. , JAIPUR

In the result, all the appeals of the revenue are dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं./ITA Nos.268, 270, 271 & 274/JP/2025 निर्धारण वर्ष / Assessment Years : 2013-14, 2014-15 & 2017-18 Dy. Commissioner of Income बनाम Kiran Fine Jewellers Private Tax, Vs. Limited Central Circle-02, Jaipur F-19, Gautam Marg, Vaishali Nagar, Jaipur स्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AADCK7512P अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee by : Shri R. K. Bhatra, CA राजस्व की

271 & 274-JP-2025 /JP/2024 DCIT vs. Kiran Fine Jewellers Pvt Ltd. only sent a proposal/reference for initiating proceedings u/s 271E in this case to the Additional Commissioner. The Assessing Officer is not empowered to initiate the penalty proceedings u/s 271E. In fact, the penalty proceedings u/s 271E were initiated by him only on 24/02/2022 by issuance of show-cause

DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR vs. M/S KIRAN FINE JEWELLERS PVT LTD. , JAIPUR

In the result, all the appeals of the revenue are dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं. / ITA Nos.268, 270, 271 & 274/JP/2025 निर्धारण वर्ष / Assessment Years : 2013-14, 2014-15 & 2017-18 Dy. Commissioner of Income बनाम Tax, Central Circle-02, Jaipur Vs. Kiran Fine Jewellers Private Limited F-19, Gautam Marg, Vaishali Nagar, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: AADCK7512P अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee by: Shri R. K. Bhatra, CA राजस्व

271 & 274-JP-2025 /JP/2024 DCIT vs. Kiran Fine Jewellers Pvt Ltd. only sent a proposal/reference for initiating proceedings u/s 271E in this case to the Additional Commissioner. The Assessing Officer is not empowered to initiate the penalty proceedings u/s 271E. In fact, the penalty proceedings u/s 271E were initiated by him only on 24/02/2022 by issuance of show-cause

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR vs. M/S KIRAN FINE JEWELLERS PVT LTD. , JAIPUR

In the result, all the appeals of the revenue are dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं. / ITA Nos.268, 270, 271 & 274/JP/2025 निर्धारण वर्ष / Assessment Years : 2013-14, 2014-15 & 2017-18 Dy. Commissioner of Income बनाम Tax, Central Circle-02, Jaipur Vs. Kiran Fine Jewellers Private Limited F-19, Gautam Marg, Vaishali Nagar, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: AADCK7512P अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee by: Shri R. K. Bhatra, CA राजस्व

271 & 274-JP-2025 /JP/2024 DCIT vs. Kiran Fine Jewellers Pvt Ltd. only sent a proposal/reference for initiating proceedings u/s 271E in this case to the Additional Commissioner. The Assessing Officer is not empowered to initiate the penalty proceedings u/s 271E. In fact, the penalty proceedings u/s 271E were initiated by him only on 24/02/2022 by issuance of show-cause

SWASTIK UDYOG,JAIPUR vs. ITO, TONK

In the result, the appeals of the assessee is dismissed

Bench: The Date Of Hearing.

u/s 271(1)© r.w.s. 274 of the Act. 5.2 In penalty proceedings, the AO vide his order dated 27-06-12 imposed the penalty of Rs. 88,269/- by observing as under:- ‘’It is therefore, held that the assessee has deliberately and willfully furnished inaccurate particulars of its income and has tried to reduce income

FARMAN KHAN,CHAKSU vs. INCOME-TAX OFFICER WARD 7(3), JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

269 SS by the was not available”. 2. Thus, the Range- JCIT initiated proceedings on his whims and by arrogating the duty and role assigned to the ITO and without having any information / reference of the stated contravention of Section 269SS by the appellant. This also explains as to why the quantum of the contravention of section 269SS, mentioned

SH. ASHOK KUMAR PORWAL,JHALAWAR vs. JCIT, RANGE-1, KOTA, KOTA

In the result, appeal of the assessee is partly allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

269 SS Any loan or deposit or specified sum "taken or accepted from" or "taken or accepted by" the following entities - • The government • Any banking company, post office savings bank or co-operative bank • Any corporation established by a Central, State or Provincial Act • Any government company as defined in clause (45) of section 2 of the Companies

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. SH. ASHWANI GUPTA, JAIPUR

In the result, all the appeals of the revenue are dismissed

269 T of the Act.\nTherefore, considering that provision of the section the contention of the\nassessee that the repayment of loan by way of adjustment through journal entries\nwould not come within the ambit of Section 269T and the said contention was not\nacceptable as per his contention. As Section 269T requires the entities specified\ntherein not to make

SHRI NEERAJ PUROHIT,JAIPUR vs. JOINT COMMISSIONER OF INCOME TAX, JAIPUR

In the result, the appeal of the assessee is allowed

271 D had observed as under: "An order imposing penalty for failure to carry out a statutory obligation is the result of a quasi criminal proceedings and penalty will not ordinarily be imposed unless the party is obliged either acted deliberately in defiance of law or was guilty of conduct contumacious or dishonest or acted in conscious disregard

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. SH. ASHWANI GUPTA, JAIPUR

In the result, all the appeals of the revenue are dismissed

269 T of the Act.\nTherefore, considering that provision of the section the contention of the\nassessee that the repayment of loan by way of adjustment through journal entries\nwould not come within the ambit of Section 269T and the said contention was not\nacceptable as per his contention. As Section 269T requires the entities specified\ntherein not to make

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. SH. ASHWANI GUPTA, JAIPUR

In the result, all the appeals of the revenue are dismissed

269 T of the Act.\nTherefore, considering that provision of the section the contention of the\nassessee that the repayment of loan by way of adjustment through journal entries\nwould not come within the ambit of Section 269T and the said contention was not\nacceptable as per his contention. As Section 269T requires the entities specified\ntherein not to make

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. SH. ASHWANI GUPTA, JAIPUR

In the result, all the appeals of the revenue are dismissed

269 T of the Act.\nTherefore, considering that provision of the section the contention of the\nassessee that the repayment of loan by way of adjustment through journal entries\nwould not come within the ambit of Section 269T and the said contention was not\nacceptable as per his contention. As Section 269T requires the entities specified\ntherein not to make

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. ASHWANI GUPTA, JAIPUR

In the result, all the appeals of the revenue are dismissed

269 T of the Act.\nTherefore, considering that provision of the section the contention of the\nassessee that the repayment of loan by way of adjustment through journal entries\nwould not come within the ambit of Section 269T and the said contention was not\nacceptable as per his contention. As Section 269T requires the entities specified\ntherein not to make

ANIL SHARMA, JAIPUR,JAIPUR vs. ITO, WARD-1(3), JAIPUR, JAIPUR

8. In view of the above findings, this appeal is hereby allowed and the impugned order passed by Learned CIT(A), NFAC upholding the penalty order u/s 271E of the Act, is hereby set aside

Bench: This Appellate Tribunal, Feeling Aggrieved By Order Dated 15.10.2024, Passed By Learned Cit(A), Nfac, Delhi. The Matter Pertains To The Assessment Year 2014-15. Vide Impugned Order, Penalty Imposed By The Assessing Officer U/S 271E Of The Income Tax Act, 1961 (In Short “The Act”) Has Been Upheld.

269-T of the Act, by making repayment of a sum of Rs. 24,988/- in cash. Hence, this appeal. 2. Arguments heard. File perused. 3. Ld. AR for the appellant has submitted that while passing order as regards quantum assessment, the Assessing Officer was required to record satisfaction about violation of provisions of Section 269T read with section 271E

AMAN GOYAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4, JAIPUR

In the result, appeal of the assessee is allowed

Bench: HON’BLE SHRI SANDEEP GOSAIN (Judicial Member)

section 271(1)(C) of the Income Tax Act, 1961 from National E assessment Centre – Delhi on 11.03.2021. The Appellant has submittedsuitable reply mentioning that the subsidy received from government has already offered for Taxation in the next assessment year when all the conditions were satisfied related to subsidy and hence intention of the assesse was not to conceal

RAM BHAROSE SHARMA,JAIPUR vs. ITO, JAIPUR

In the result, the appeal of the assessee is allowed for Statistical purposes as indicated above

penalty under s. 271(1)(c)—Assessee was under bona fide impression that appeal has been filed—It was only when AO issued further show-cause notice that assessee came to know that appeal has not been filed—Thereafter, it filed appeal within a week—Said fact not challenged by Revenue—CIT(A) ought to have condoned the delay