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2 results for “penalty u/s 271”+ Section 364clear

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Key Topics

Section 143(3)2Deduction2Disallowance2

ITO, WARD - 3(3), KOLKATA , KOLKATA vs. M/S. C D STEEL PVT. LTD., , KOLKATA

Appeal is dismissed

ITA 1360/KOL/2017[2013-14]Status: DisposedITAT Kolkata29 Aug 2018AY 2013-14

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2013 14

Section 143(3)Section 271(1)(c)Section 41(1)Section 43BSection 68

Penalty u/s. 271(1)(c) of the Act initiated for the same.’ 8.1 The appellant has submitted the following written submissions:- ‘Due to financial crisis, assessee company unable to repay the advance received from party of Rs.1,5,30,000/- since long back. It is pertinent to mention herein that the said advance received from party of Rs.1

DDIT(IT)-1(1)KOL, KOLKATA vs. M/S JOY PARTNERSHIP, KOLKATA

In the result, the appeal of the revenue is partly allowed for statistical purposes

ITA 149/KOL/2009[2005-06]Status: DisposedITAT Kolkata17 Oct 2017AY 2005-06

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] I.T.A No. 149/Kol/2009 Assessment Year : 2005-06 Ddit(It)-1(1), Kolkata -Vs- M/S Joy Partnership [Pan: Aadfj 6427 H] (Appellant) (Respondent)

For Appellant: Shri N.B Som, Addl. CIT Sr. DRFor Respondent: Smt. Sushmita Basu, AR
Section 143(3)

Penalty proceedings u/s 271(1)(c) is, therefore, initiated separately for disallowance of Rs.l,89,41,265/- . 4.3. The amount of exchange loss of Rs. 51,69,208/- is inclusive of Rs. 13,98,364/- in respect of which the assessee was able to identify the employees. The balance of Rs. 37,70,844/-(5169208-1398364) is purely an estimated