SRI NARENDRA N. THACKER,KOLKATA vs. DCIT, C.C.XXIV, KOLKATA

ITA Nos.1786-

Bench: : Shri M. Balaganesh

5 in assessment year 2004-05 in respect of cash found in previous year relevant to assessment year 2007-08 , merely on presumption that assessee might have been in possession of cash throughout period covered by search assessments – Held, yes [ in favour of assessee] 8.4.2. We find that this decision of Delhi Tribunal has been followed by this Tribunal

DCIT,CENT CIR-I ,KOL, KOLKATA vs. DEEPAK CHOUDHURY, KOLKATA

In the result, the appeals of the revenue are dismissed

Bench: : Shri Balaganesh & Shri S.S Viswanethra Ravi

11-2015 ORDER SHRI M.BALAGANESH, AM These appeals of the revenue arise out of the common order passed by the Learned CITA in Appeal Nos. 187 to 190/CC-I/CIT(A) C-III/08-09 for the Asst Years 2002-03 to 2005-06 respectively dated 31.8.2009 against the order of Penalty of the Learned AO passed u/s 271

DCIT, CIR-11(2), KOLKATA, KOLKATA vs. M/S P C CHANDRA (JEWELLERS) PVT. LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2011-12 Dct, Crcle-11(2), V/S. M/S P.C. Chandra P-7, Chowringhee (Jewellers), Pvt. Ltd., Square, Kolkta-69 49C, Gaiahat Road, Kolkata-19 [Pan No.Aabcp 8654 M] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Sallong Yaden, Addl. Cit-Sr-Dr अपीलाथ" क" ओर से/By Appellant Shri Ravi Tulsiyan, Fca ""यथ" क" ओर से/By Respondent 11-01-2018 सुनवाई क" तार"ख/Date Of Hearing 02-02-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Revenue Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-4, Kolkata Dated 06.07.2015. Assessment Was Framed By Dcit, Circle-11, Kolkata U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 28.08.2013 For Assessment Year 2011-12. Revenue Has Raised Following Ground:- “1. That On The Facts & In The Circumstances Of The Assessee Ld. Cit Has Erred In Deleting The Penalty Of Rs.23,68,786/- Imposed U/S. 271(1)(C) Of The It Act. 1961. 2. That The Appellant Craves For Leave To Add, Delete Or Modify Any Of The Grounds Of Appeal Before Or All The Time Of Hearing.”

section 271 (l)(c) were also initiated for filing inaccurate particulars of income and an order imposing penalty was passed. The Commissioner (Appeals) upheld the order imposing penalty. The Appellate Tribunal deleted the penalty. On appeal: Held, dismissing the appeal, that the judgment of the Supreme Court in the case of LIBERTY INDIA v. CIT [2009] 317 ITR 218(which

AMIT KHEMKA,KOLKATA vs. ITO, WARD - 43(1), KOLKATA

In the result, the appeal is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

5. We have heard the rival contentions and also considered the submissions filed. It is argued by the Ld. AR that the Assessing Officer had not applied his mind while imposing the penalty u/s 271B and did not calculate the penalty amount as per the provisions of section 271B which is 0.50% of Turnover or Rs. 1,50,000/- whichever

AMIT KHEMKA,KOLKATA vs. ITO, WARD - 43(1), KOLKATA

In the result, the appeal is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

5. We have heard the rival contentions and also considered the submissions filed. It is argued by the Ld. AR that the Assessing Officer had not applied his mind while imposing the penalty u/s 271B and did not calculate the penalty amount as per the provisions of section 271B which is 0.50% of Turnover or Rs. 1,50,000/- whichever

A.C.I.T.,CIRCLE-33, KOLKATA vs. SRI BIR SINGH ATWAL, L/R OF LATE NARINDER SINGH ATWAL, , KOLKATA

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

u/s. 274 of the Act should specifically state as to whether penalty is being proposed to be imposed for concealment of particulars of income or being proposed to be imposed for concealment of particulars of income or being proposed to be imposed for concealment of particulars of income or 3 I.T.A. No. 1090/Kol/2019 Assessment Year: 2011-12 Shri Bir Singh

SRI SASHI BADALIA,KOLKATA vs. A.C.I.T CC - XXVII,KOLKATA., KOLKATA

In the result, appeals filed by assessee are allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

5 of this section. In view of above, I am of the opinion that the AO was justified in imposing the penalty u/s. 271(1)© of the Act. His action is in accordance with the provisions of the Act. In the course of appellate proceedings, the appellant has relied on various judicial pronouncements, however, none of the decision is applicable

SRI SASHI BADALIA,KOLKATA vs. A.C.I.T CC - XXVII,KOLKATA., KOLKATA

In the result, appeals filed by assessee are allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

5 of this section. In view of above, I am of the opinion that the AO was justified in imposing the penalty u/s. 271(1)© of the Act. His action is in accordance with the provisions of the Act. In the course of appellate proceedings, the appellant has relied on various judicial pronouncements, however, none of the decision is applicable

SRI SASHI BADALIA,KOLKATA vs. A.C.I.T CC - XXVII,KOLKATA., KOLKATA

In the result, appeals filed by assessee are allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

5 of this section. In view of above, I am of the opinion that the AO was justified in imposing the penalty u/s. 271(1)© of the Act. His action is in accordance with the provisions of the Act. In the course of appellate proceedings, the appellant has relied on various judicial pronouncements, however, none of the decision is applicable

SRI SASHI BADALIA,KOLKATA vs. A.C.I.T CC - XXVII,KOLKATA., KOLKATA

In the result, appeals filed by assessee are allowed

Bench: Shri Mahavir Singh & Shri Waseem Ahmed

5 of this section. In view of above, I am of the opinion that the AO was justified in imposing the penalty u/s. 271(1)© of the Act. His action is in accordance with the provisions of the Act. In the course of appellate proceedings, the appellant has relied on various judicial pronouncements, however, none of the decision is applicable

M/S. DHANSAR ENGINEERING (P) LTD.,DHANBAD vs. ACIT, C.C. - VII, KOLKATA, KOLKATA

In the result, the appeals of assessee are allowed

Bench: : Shri P.M. Jagtap & Shri S.S.Viswanethra Ravi

5 A to section 271 (l) ( c) inserted by the finance Act 2007 which reads as under: "Explanation 5A - Where in the course of search initiated under section 132 (on or after the I" day of June, 2007), the assessee is found to be the owner of- (a) any money, bullion, jewellery or other valuable article or thing (hereinafter

DCIT, CENTRAL CIRCLE - 2(2), KOLKATA, KOLKATA vs. M/S. RASHMI CEMENT LTD., , KOLKATA

Appeal is dismissed

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.1606/Kol/2017 ("नधा"रण वष" / Assessment Year: 2013-14) Dcit, Central Circle-2(2), Vs. Rashmi Cement Ltd. Kolkata 39, Shakespeare Sarani, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcr 4343 R (Appellant) .. (Respondent) Appellant By : Shri Radhey Shyam, Cit-Dr Respondent By : Shri A. K. Tulsiyan, Fca सुनवाईक"तार"ख/ Date Of Hearing : 21/02/2019 घोषणाक"तार"ख/Date Of Pronouncement : 28/02/2019 आदेश / O R D E R Per Shri S. S. Godara: This Revenue’S Appeal For Assessment Year 2013-14 Arises Against The Commissioner Of Income Tax(A)-20, Kolkata Dated 13.04.2017 Passed In Case No.1119/Cc2(2)/Cit(A)/15-16 Reversing Assessing Officer’S Action Imposing Penalty Of Rs.3,09,69,700/- In His Order Dated 30.09.2015 U/S 271Aab Of The Income Tax Act, 1961 (In Short ‘The Act’). Heard Both The Parties. Case File Perused. 2. We Notice At The Time Of Hearing That This Revenue’S Appeal Suffers From Four Days Delay In Filing. It Filed Condonation Petition 06.07.2017 Describing Reasons Thereof To Various Procedural Formalities At Departmental Level. Learned Counsel Representing Assessee Is Very Fair In Not Disputing The Said Solemn Averments. We Therefore Condone The Impugned Four Days Delay In Filing Of Revenue’S Instant Appeal As Neither Intentional Nor Deliberate.

11. So for the reasons as aforerstated and relying on the Hon’ble Andhra Pradesh High Court ratio in Radha Krishna Vihar (supra), we cannot agree with the Revenue that the levy of penalty under Section 271AAB was mandatory and automatic. We further note that the penalty leviable under Section 271AAB must have necessary and proximate nexus with discovery

AMAR NATH SHROFF,KOLKATA vs. DY. COMMISSIONER OF INCOME TAX, KOLKATA

In the result ITA Nos.1797 to 1800/Kol/2009 are allowed while ITA Nos

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ]

penalty proceedings to explain the reasons as to why he had not admitted the entire incomes in each of the returns filed u/s 139(1) of the Act for A.Y.2001-02, 2002-03, 2004-05 and 2005-06. With regard to the immunity Explanation 5 to Sec. 271(1)(c) of the Act, the CIT(A) was of the view that

DCIT, C.C. I, KOLKATA, KOLKATA vs. AMARNATH SHROFF, KOLKATA

In the result ITA Nos.1797 to 1800/Kol/2009 are allowed while ITA Nos

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ]

penalty proceedings to explain the reasons as to why he had not admitted the entire incomes in each of the returns filed u/s 139(1) of the Act for A.Y.2001-02, 2002-03, 2004-05 and 2005-06. With regard to the immunity Explanation 5 to Sec. 271(1)(c) of the Act, the CIT(A) was of the view that

DCIT, CENTRAL CIRCLE - 2(2), KOLKATA , KOLKATA vs. M/S/ RASHMI METALIKS LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

11. So for the reasons as aforerstated and relying on the Hon’ble Andhra Pradesh High Court ratio in Radha Krishna Vihar (supra), we cannot agree with the Revenue that the levy of penalty under Section 271AAB was mandatory and automatic. We further note that the penalty leviable under Section 271AAB must have necessary and proximate nexus with discovery

D.C.I.T., CC-4(4), KOLKATA, KOLKATA vs. EVERSIGHT TRADECOMM PVT. LTD., KOLKATA

In the result, all the three appeals filed by the revenue are dismissed and copy of common order passed is to be placed on respective case files

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

5. At the time of hearing, the ld. DR submitted before us that the impugned order passed by the ld. CIT(A) is bad in law by which the ld. CIT(A) cancelling the penalty levied u/s 271(1)(c) of the Act without appreciating that the AO did not mention the specific charges viz. “concealment of particulars of income

D.C.I.T., CC-4(4), KOLKATA, KOLKATA vs. EVERSIGHT TRADE COMM PVT. LTD., KOLKATA

In the result, all the three appeals filed by the revenue are dismissed and copy of common order passed is to be placed on respective case files

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

5. At the time of hearing, the ld. DR submitted before us that the impugned order passed by the ld. CIT(A) is bad in law by which the ld. CIT(A) cancelling the penalty levied u/s 271(1)(c) of the Act without appreciating that the AO did not mention the specific charges viz. “concealment of particulars of income

D.C.I.T., CC-4(4), KOLKATA, KOLKATA vs. EVERSIGHT TRADE COMM PVT. LTD., KOLKATA

In the result, all the three appeals filed by the revenue are dismissed and copy of common order passed is to be placed on respective case files

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

5. At the time of hearing, the ld. DR submitted before us that the impugned order passed by the ld. CIT(A) is bad in law by which the ld. CIT(A) cancelling the penalty levied u/s 271(1)(c) of the Act without appreciating that the AO did not mention the specific charges viz. “concealment of particulars of income