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

penalty on account of Explanation 5 to Section 271(1)(c ) of the Act in respect of income offered after the search but in the return filed u/s 153A of the Act. Since identical issue is involved in all the appeals, they are taken up together and disposed off by this common order for the sake of convenience. 4

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. 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

u/s 143(3) in such cases. 6. Extracts from the Explanatory Memo to Finance Bill,2012: Penalty on undisclosed income found during the course of search - 271 AAB Introduced : Under the existing provisions of section 271 AAA of the Income-tax Act, no penalty is levied if the assessee admits the undisclosed income in a statement under sub-section (4

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

u/s 143(3) in such cases. 6. Extracts from the Explanatory Memo to Finance Bill,2012: Penalty on undisclosed income found during the course of search - 271 AAB Introduced : Under the existing provisions of section 271 AAA of the Income-tax Act, no penalty is levied if the assessee admits the undisclosed income in a statement under sub-section (4

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(4

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(4

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(4

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.”

penalty proceedings u/s 271(1)( c) of the Act for such wrong claim of depreciation made in the return, although withdrawn as wrongly claimed in return of income. ITA No.1197/Kol/2015 A.Y. 2011-12 DCIT, Cir-11(2), Kol. Vs. M/s PCC(Jewellers), Pvt. Ltd. Page 9 3. However, the Ld. A.O. has not recorded any satisfaction in its Assessment Order

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

In the result, the appeal is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

271(1)(c) which has to be initiated in the course of any proceeding, the penalty under section 271B also has to be initiated in the course of any proceeding. The penalty under section 271B relates to not getting the accounts audited under the Act and as the same is not related to the quantum of income assessed

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

In the result, the appeal is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

271(1)(c) which has to be initiated in the course of any proceeding, the penalty under section 271B also has to be initiated in the course of any proceeding. The penalty under section 271B relates to not getting the accounts audited under the Act and as the same is not related to the quantum of income assessed

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

Section 271 are mentioned would not satisfy requirement of law. 271 are mentioned would not satisfy requirement of law. 271 are mentioned would not satisfy requirement of law. r) The assessee should know the grounds which he has to meet r) The assessee should know the grounds which he has to meet r) The assessee should know the grounds which

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

Section 271(1)© of the Act. Hence, the penalty imposed by the AO u/s 271(1)(c) amounting to Rs.3,36,600/- is confirmed. The ground no. 1 to 4

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

Section 271(1)© of the Act. Hence, the penalty imposed by the AO u/s 271(1)(c) amounting to Rs.3,36,600/- is confirmed. The ground no. 1 to 4

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

Section 271(1)© of the Act. Hence, the penalty imposed by the AO u/s 271(1)(c) amounting to Rs.3,36,600/- is confirmed. The ground no. 1 to 4

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

Section 271(1)© of the Act. Hence, the penalty imposed by the AO u/s 271(1)(c) amounting to Rs.3,36,600/- is confirmed. The ground no. 1 to 4

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

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]

penalty order, in paragraph 4.d,, the AO has admitted that he did not specify the particular limb in his notice u/s 274 r/w section 271