ITO, WARD - 36(1), KOLKATA, KOLKATA vs. SHRI RAGHUNANDAN MODY, KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri P.M. Jagtap, Am & Shri A.T. Varkey, Jm] I.T.A. No. 1439/Kol/2017 Assessment Year: 2011-12 Income Tax Officer..............................…………………………............................................Appellant Ward 36(1), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, E.M. By Pass, Kolkata – 700 107. Shri Raghunandan Mody....................…………………………………………………….....Respondent Rasoi Court, 20, R.N. Mukherjee Road, Burdwan – 700 001 [Pan: Aexpm 8474 P] Appearances By: Shri G.H. Seema, Addl. Cit Appearing On Behalf Of The Revenue. Shri S.M. Surana Appearing On Behalf Of The Assessee Date Of Concluding The Hearing : May 31, 2018 Date Of Pronouncing The Order : June 08, 2018 Order Per P.M. Jagtap, Am This Appeal Preferred By The Revenue Is Directed Against The Order Of Ld. Cit(A) – 10, Kolkata Dated 09.03.2017 Whereby He Cancelled The Penalty Of Rs. 11,38,202/- Imposed By The Ao Under Section 271(1)(C) Of The Act.

section 271(1)(c) is not applicable in respect of allegation of 'furnishing of inaccurate particulars' as the same is available in respect of allegation of 'concealment' only. Accordingly, I am inclined to accept the contention of the appellant that the penalty u/s 27L