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

DCIT, CC-XVI, KOLKATA, KOLKATA vs. SHRI SATYAM ROY CHOWDHURY, KOLKATA

In the result, all the six appeals of the Revenue are dismissed

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

12 of 14 Assessing Officer has made assessment on the said return and therefore, the return is to be considered for the purpose of penalty under section 271(1)(c ) of the I.T.Act and the penalty is to be levied on the income assessed over and above the income returned under section 153A, if any. 14. Further, in the present

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

In the result, the appeal is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

U/S 271(l)(c) of the Act by the learned Amit Khemka AYs: 2012-13 Assessing Officer even when the addition was made on estimation basis.” 11. Brief facts of the case have been mentioned in para 4 and are not repeated here. The Ld. AO gave effect to the appeal order and also issued a notice under section 271

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

In the result, the appeal is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

U/S 271(l)(c) of the Act by the learned Amit Khemka AYs: 2012-13 Assessing Officer even when the addition was made on estimation basis.” 11. Brief facts of the case have been mentioned in para 4 and are not repeated here. The Ld. AO gave effect to the appeal order and also issued a notice under section 271

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

12,71,951/- only. In the assessment order, AO initiated penalty proceedings and issued a notice u/s 274 of the Act stating that you have concealed the particulars of income or furnished inaccurate particulars of such income. Finally the AO imposed penalty in terms of explanation 5A to the section 271

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

12,71,951/- only. In the assessment order, AO initiated penalty proceedings and issued a notice u/s 274 of the Act stating that you have concealed the particulars of income or furnished inaccurate particulars of such income. Finally the AO imposed penalty in terms of explanation 5A to the section 271

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

12,71,951/- only. In the assessment order, AO initiated penalty proceedings and issued a notice u/s 274 of the Act stating that you have concealed the particulars of income or furnished inaccurate particulars of such income. Finally the AO imposed penalty in terms of explanation 5A to the section 271

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

12,71,951/- only. In the assessment order, AO initiated penalty proceedings and issued a notice u/s 274 of the Act stating that you have concealed the particulars of income or furnished inaccurate particulars of such income. Finally the AO imposed penalty in terms of explanation 5A to the section 271

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.

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

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

12,525/- for the assessment years 2002-03 , 2003-04, 2004-05, 2005-06 and 2006-07 respectively on the ground that the Explanation 5 to section 271(1)( c) protects the assessee from penalty on admitted undisclosed income under section 132(4) of the Act without appreciating that the assessee has made the disclosure in the Assessment Years

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

12 penalty is not valid. The validity of the order of penalty must be determined with reference to the information, facts and materials in the hands of the authority imposing the penalty at the time the order was passed and further discovery of facts subsequent to the imposition of penalty cannot validate the order of penalty which, when passed

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]

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

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

ITA Nos.1786-

Bench: : Shri M. Balaganesh

12,525/- for the assessment years 2002-03 , 2003-04, 2004-05, 2005-06 and 2006-07 respectively on the ground that the Explanation 5 to section 271(1)( c) protects the assessee from penalty on admitted undisclosed income under section 132(4) of the Act without appreciating that the assessee has made the disclosure in the Assessment Years

M/S PRICEWATERHOUSE COOPERS PVT. LTD.,KOLKATA vs. ACIT, CIRCLE-2(2), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara) Assessment Year: 2011-12 M/S. Pricewaterhouse Coopers Private Limited……...............................……………………......Appellant Block-Ep, Plot –Y14 Salt Lake City Sector-V Kolkata – 700 091 [Pan : Aabcp 9181 H] Vs. Deputy Commissioner Of Income Tax (It), Circle-2(1), Kolkata……..........................…....Appellant Appearances By: Shri Kanchun Kaushal, A/R & Shri Bikash Kr. Jain, Ca, Appeared On Behalf Of The Assessee. Shri Vijay Shankar, Cit, D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : February 25Th, 2020 Date Of Pronouncing The Order : May 29Th, 2020 Order Per J. Sudhakar Reddy, Am :-

penalty notice under section 274 read with section 271(1)(C) of the Act along with the draft assessment order section 274 read with section 271(1)(C) of the Act along with the draft assessment order section 274 read with section 271(1)(C) of the Act along with the draft assessment order dated 27 November 2015, which renders

SMT. RASHMI JALAN,KOLKATA vs. A.C.I.T.CENTRAL CIRCLE-1(1), KOLKATA

In the result, appeal of the assessee is allowed

u/s 271AAB r.w.s. 274 of the Income tax Act, 1961. If you do not wish to avail yourself of this opportunity of being heard in 1961. If you do not wish to avail yourself of this opportunity of being heard in 1961. If you do not wish to avail yourself of this opportunity of being heard in person or through

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 ]

12. The grounds of appeal originally filed before the Tribunal were narrative and had not specifically challenged the legality of the order of CIT(A) confirming the order of AO imposing penalty on the assessee u/s 271(1)(c) of the Act. The assessee has therefore filed an additional ground which reads as follows :- “That the learned Commissioner of Income

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 ]

12. The grounds of appeal originally filed before the Tribunal were narrative and had not specifically challenged the legality of the order of CIT(A) confirming the order of AO imposing penalty on the assessee u/s 271(1)(c) of the Act. The assessee has therefore filed an additional ground which reads as follows :- “That the learned Commissioner of Income

DCIT, C.CIRCLE-4(2), KOLKATA, KOLKATA vs. SHRI BRIJENDRA KUMAR PODDAR, KOLKATA

In the result, the appeals filed by the Revenue are dismissed, while the Cross Objections filed by the assessee are allowed

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

12 the assessee for concealment or filing of inaccurate particulars as required u/s 271(1)(c) of the I.T. Act, 1961. Keeping in view facts discussed in above paragraphs, I am of this view that in this particular case levy of penalty u/s 271(1)(c ) of the I.T. Act, 1961 is not justified. Here, it would