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)(a). Hence the penalty order should have\nbeen passed before 31.10.2018 and therefore the penalty order dt.31.03.2019 passed by AO\nis clearly barred by limitation.\n\n6. On merits it is submitted that the penalty has been imposed by the AO for concealment of\nincome on two issues namely disallowance of CSR expenses and disallowance u/s

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)

271(1)(c) of the Act, for initiation of penalty proceedings will not warrant/ permit penalty being imposed for the other breach. This is more so, as an Assessee would respond to the ground on which the penalty has been initiated/notice issued. It must, therefore, follow that the order imposing penalty has to be made only on the ground

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 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

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(1)(c) 35 Shri Raj Kumar Jain, Jaipur. that the income was surrendered on the basis of some documents on which the name of some persons and some amount is mentioned. The Learned Assessing Officer has not made any enquiry regarding those documents whether the person the name of which mentioned is an existing person or the amount mentioned

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.

42,199/- and Rs. 1,20,43,429/- 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

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.

42,199/- and Rs. 1,20,43,429/- 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

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.

42,199/- and Rs. 1,20,43,429/- 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

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

penalty u/s 271(1)(c) of the Act. That is, whether the assessee has acted honestly and its action is done with as much care as any prudent person would do in similar circumstances to ensure that the ALP was determined in accordance with the scheme of section 92C and in the manner prescribed in the Vaibhav Global

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

penalty u/s 271(1)(c) of the Act. That is, whether the assessee has acted honestly and its action is done with as much care as any prudent person would do in similar circumstances to ensure that the ALP was determined in accordance with the scheme of section 92C and in the manner prescribed in the Vaibhav Global

RAMESH CHAND BANSAL,BEAWAR vs. DCIT, AJMER

In the result, the appeals of the assessee are allowed

Section 274 should satisfy the grounds which he has to meet specifically. Otherwise, principles of natural justice is offended if the show cause notice is vague. On the basis of such proceedings, no penalty could be imposed on the assessee.” The Hon’ble court also held that initiating penalty proceedings on one limb and find the assessee guilty on another

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

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 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

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

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

42 taxmann.com 9 (Punjab & Haryana) and Chennai Tribunal in case of ACIT, Central Circle 11(5) vs. Smt. J. Mythili. Finally, the AO has given his conclusive finding at para 7 of his penalty order wherein it has been stated that in view of the above cited and facts and legal position, the assessee is liable for penalty u/s 271

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

42 M/s Rambhajo’s vs. ACIT (c) so satisfied in sub-section (1) to Section 271AAB. Further, as per sub-section (3) of Section 271AAB, the provisions of section 274 and section 275 as far as may be applied in relation to penalty under this section which means that before levying the penalty, the Assessing officer has to issue

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

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

42,296/- u/s 271(1)(c) of the IT Act, 1961. 2. The ld. CIT(A) has erred on facts and in law in holding that Explanation 5 to section 271(1)(c) is applicable and since assessee has not stated the manner of earning the income in statement u/s 132(4), he is liable for penalty

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