ACITCC-3(2), KOLKATA vs. SMT. SAVITRI DEVI AGARWAL, BILASPUR

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

271 AAB IS LEVIABLE EVEN IF INCOME IS ADMITTED U/S 132(4) AND SUCH PENALTY IS TO BE LEVIED ON THE AMOUNT OF UNDISCLOSED INCOME ADMITTED U/S 132(4).THEREFORE, PENALTY UNDER NEWLY SUBSTITUTED SECTION

ACIT CC-3(2),, KOLKATA vs. SRI ARJUN LAL AGARWAL , KOLKATA

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

271 AAB IS LEVIABLE EVEN IF INCOME IS ADMITTED U/S 132(4) AND SUCH PENALTY IS TO BE LEVIED ON THE AMOUNT OF UNDISCLOSED INCOME ADMITTED U/S 132(4).THEREFORE, PENALTY UNDER NEWLY SUBSTITUTED SECTION

ACIT CC-3(2) , KOLKATA vs. SMT. KALAWATI DEVI AGARWAL, BILASPUR

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

271 AAB IS LEVIABLE EVEN IF INCOME IS ADMITTED U/S 132(4) AND SUCH PENALTY IS TO BE LEVIED ON THE AMOUNT OF UNDISCLOSED INCOME ADMITTED U/S 132(4).THEREFORE, PENALTY UNDER NEWLY SUBSTITUTED SECTION

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.

penalty was warranted u/s 271AAB of the Act. The Ld. AO was however of the opinion that unlike Section 271(1)(c) or 271AAA, the provisions contained in Section 271AAB were mandatory and automatic and once disclosure of income was made by an assessee in his statement u/s 132

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

u/s. 132(4). As a consequence, the year wise allocation of undisclosed income is revised as seen from paragraph 2.1 of this order. Penalty proceedings are in respect this additional amount. 3.2. In my opinion, the appellant should get the protection of second exception of Explanation 5 to section 271

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

ITA Nos.1786-

Bench: : Shri M. Balaganesh

section 271(1)(c ) of the Act and accordingly is entitled for immunity from levy of penalty as the assessee had, made disclosure statement u/s 132

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]

penalty was warranted u/s 271AAB of the Act. The Ld. AO was however of the opinion that unlike Section 271(1)(c) or 271AAA, the provisions contained in Section 271AAB were mandatory and automatic and once 2 A.Y. 2013-14 M/s. Rashmi Metaliks Ltd. disclosure of income was made by an assessee in his statement u/s 132

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

section 271(1)(c ) of the Act and accordingly is entitled for immunity from levy of penalty as the assessee had, made disclosure statement u/s 132

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

penalty is not leviable u/s. 271(1)©. The provisions of Explanation 5A of section 271(1)© reads as under:- [Explanation 5A – Where, in the course of a search initiated under section 132

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

penalty is not leviable u/s. 271(1)©. The provisions of Explanation 5A of section 271(1)© reads as under:- [Explanation 5A – Where, in the course of a search initiated under section 132

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

penalty is not leviable u/s. 271(1)©. The provisions of Explanation 5A of section 271(1)© reads as under:- [Explanation 5A – Where, in the course of a search initiated under section 132

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

penalty is not leviable u/s. 271(1)©. The provisions of Explanation 5A of section 271(1)© reads as under:- [Explanation 5A – Where, in the course of a search initiated under section 132

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

penalty proceedings u/s. 271(1)( C ) for concealment of income, it has been admitted by the AO that this amount represents a sum disclosed u/s 132(4), as such Explanation 5 to section

JEKAY INTERNATIONAL (P) LTD.,KOLKATA vs. DCIT,CC-4(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sh. P.M.Jagtap & Sh.S.S.Viswanethra Raviganpati Industrial Pvt.Ltd., Vs Dcit, 2, Hare Street, 3Rd Floor, Circle-4(2), Nicco House, Kolkata-700001. Kolkata. Pan-Aaacg9441Q (Appellant) (Respondent) Vs Dcit, Jekay International Pvt.Ltd., 2, Hare Street, 3Rd Floor, Circle-4(2), Nicco House, Kolkata-700001. Kolkata. Pan-Aabcj6307K (Appellant) (Respondent) Appellant By Shri.M.Satnaliwala, Fca Respondent By Shri.Anand Kumar Kedia, Cit Dr Date Of Hearing 28.11.2018 Date Of Pronouncement 15.02.2019 Order Per S.S. Viswanethra Ravi

132, in which the assessees admit undisclosed income and specifies the manner in which such income has been derived. We have gone through the contents of the penalty notice and we find that in the penalty notice, which has been issued under Section 274 read with Section 271, the assessing authority has clearly indicated that the proceedings under Section 271AAB

GANAPATI INDUSTRIAL (P) LTD.,KOLKATA vs. DCIT,CC-4(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sh. P.M.Jagtap & Sh.S.S.Viswanethra Raviganpati Industrial Pvt.Ltd., Vs Dcit, 2, Hare Street, 3Rd Floor, Circle-4(2), Nicco House, Kolkata-700001. Kolkata. Pan-Aaacg9441Q (Appellant) (Respondent) Vs Dcit, Jekay International Pvt.Ltd., 2, Hare Street, 3Rd Floor, Circle-4(2), Nicco House, Kolkata-700001. Kolkata. Pan-Aabcj6307K (Appellant) (Respondent) Appellant By Shri.M.Satnaliwala, Fca Respondent By Shri.Anand Kumar Kedia, Cit Dr Date Of Hearing 28.11.2018 Date Of Pronouncement 15.02.2019 Order Per S.S. Viswanethra Ravi

132, in which the assessees admit undisclosed income and specifies the manner in which such income has been derived. We have gone through the contents of the penalty notice and we find that in the penalty notice, which has been issued under Section 274 read with Section 271, the assessing authority has clearly indicated that the proceedings under Section 271AAB

D.C.I.T CC - V,KOLKATA, KOLKATA vs. KRISHNA TRADE & COMMERCE PVT LTD, KOLKATA

In the result, the appeal of the Revenue is dismissed

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

132(4) read with section 271(1)(c) of the Act.” The Learned CIT(A) deleted the levy of penalty u/s

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

In the result, appeal of the assessee is allowed

271 of the Act on 31/03/2015 proposing to levy penalty. The notice reads as follows: proposing to levy penalty. The notice reads as follows:- “ 3 Assessment Year: 2013-14 Smt. Rashmi Jalan 2.1.1. The assessee filed a written submission on 14/09/2015. Thereafter the The assessee filed a written submission on 14/09/2015. Thereafter the The assessee filed a written submission

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 ]

section 271 of the Act the assessee had to satisfy the following three conditions : (i) Such income has been disclosed in a statement u/s 132(4) of the Act. ITA Nos.1797 to 1800/Kol/2009&1494 to 1497Kol/2010-Amar Nath Shroff A.Y.2001-02 to 200203 & 2004-05&2005-06 (ii) In such statement the assessee specifies the manner in which such income has been