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

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

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

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

u/s 274 r.w.s 271(1)(c) of the\nAct, is quite vague. The impugned penalty based on such a notice being contrary\nto the provisions of law and facts kindly be quashed.\n4. The appellant prays your honor to add, amend or alter any of the grounds\nof the appeal on or before the date of hearing.”\n5. The fact

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

u/s. 148 of the Act and thereafter the assessed income.\nIt is not legally possible that for making assessment the ROI filed u/s 148 is\nnot considered and is to be considered for imposition of penalty, whereas\nthe ROI filed earlier u/s 139 cannot. To support this view he relied upon the\nvarious decision cited in the written submission

AJOY SHARMA,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

u/s. 148 of the Act and thereafter the assessed income.\nIt is not legally possible that for making assessment the ROI filed u/s 148 is\nnot considered and is to be considered for imposition of penalty, whereas\nthe ROI filed earlier u/s 139 cannot. To support this view he relied upon the\nvarious decision cited in the written submission

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

u/s. 148 of the Act and thereafter the assessed income.\nIt is not legally possible that for making assessment the ROI filed u/s 148 is\nnot considered and is to be considered for imposition of penalty, whereas\nthe ROI filed earlier u/s 139 cannot. To support this view he relied upon the\nvarious decision cited in the written submission

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

u/s. 148 of the Act and thereafter the assessed income.\nIt is not legally possible that for making assessment the ROI filed u/s 148 is\nnot considered and is to be considered for imposition of penalty, whereas\nthe ROI filed earlier u/s 139 cannot. To support this view he relied upon the\nvarious decision cited in the written submission

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

penalty proceedings are completed in all cases\nin time.\n19. Secondly, the Direct Tax Laws (Amendment) Act, 1987, which came into\neffect from 1-4-1989, section 275 was amended. Vide amendment, the time-limit\nfor completion of penalty proceedings which was generally two years from the\nend of financial year in which such proceedings were completed or six months

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

penalty proceedings are completed in all cases\nin time.\n19. Secondly, the Direct Tax Laws (Amendment) Act, 1987, which came into\neffect from 1-4-1989, section 275 was amended. Vide amendment, the time-limit\nfor completion of penalty proceedings which was generally two years from the\nend of financial year in which such proceedings were completed or six months

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

penalty proceedings were initiated in terms of section 271 or\nsection 273 which were the principal provisions for imposing penalty under\nChapter XXI. Since the initiation of penalty proceedings was linked with\nassessment proceedings and the orders in such assessments were subject to\nappeal, the findings in such proceedings ordinarily became the foundation for\ninitiating proceedings for penalty and remained

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

penalty under section 275 as\noriginally enacted was directly linked with the completion of proceedings in the\ncourse of which the penalty proceedings were initiated in terms of section 271 or\nsection 273 which were the principal provisions for imposing penalty under\nChapter XXI. Since the initiation of penalty proceedings was linked with\nassessment proceedings and the orders in such

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

penalty proceeding is usually initiated when during some\nproceedings such default is noticed, though the final fact finding in this\nproceeding may not have any bearing on the issues relating to establishing\ndefault, e.g., penalty for not deducting tax at source while making payment to\nemployees, or contractor, or for that matter not making payment through cheque\nor demand draft

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

section 263, after the expiry of six months from the end of\nthe month in which such order of revision is passed;\n(c)\nin any other case, after the expiry of the financial year in which the\nproceedings, in the course of which action for the imposition of penalty has\nbeen initiated, are completed, or six months from

DCIT CENTRAL CIRCLE AJMER, AJMER vs. YASHWANT KUMAR SHARMA, AJMER

In the result, the appeal of the revenue is dismissed and the cross

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 210/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2020-21 DCIT, Central Circle, Ajmer cuke Vs. Yashwant Kumar Sharma F-108, Industrial Area, Makhupura Parbatpura, Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ASWPS 3791 E vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@C.O. No. 04/JP/2023 (Arising out of ITA Nos. 210/JP/2023) fu/kZkj.k o"kZ@Assessment Years : 2020-21 Yashwant Kumar Sharma

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

SHRI ANIL GHATIWALA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeal of the assessee is partly allowed

54,000/- was found from locker of Smt. Nirmala Ghatiwala. The search party, out of Rs.8,94,800/- seized cash of Rs.8,00,000/- as undisclosed cash and accepted the remaining cash of Rs.94000/- as genuine (Rs.94000/- was cash balance of his wife’s proprietorship business.) It was submitted that the said cash found was not a undisclosed income rather