DEPUTY COMMISSIONER OF INCOME TAX, AMRAVATI & CHANDRAPUR CIRCLE, AMRAVATI vs. CHANDRAPUR DISTRICT CENTRAL CO-OP BANK LTD., CHANDRAPUR

In the result, appeal filed by the Revenue is allowed for statistical purposes

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

u/s 271(1)(c) of the I.T. Act.” 6. In view of the above, the Assessing Officer levied penalty under section 271(1)(c) of the Act of ` 39,07,11,248, for furnishing inaccurate particulars of income. The assessee being aggrieved filed appeal before the first appellate authority. 7. The learned CIT(A) deleted the penalty levied

ACIT, AMRAVATI CIRCLE, AMRAVATI vs. CHANDRAPUR DIST CENTRAL CO-OP BANK LTD, CHANDRAPUR

In the result, appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

income. Consequent upon such addition, the Assessing Officer levied penalty under section 271(1)(c) of the Act for ` 21.40 crore. The assessee being aggrieved with the penalty order, filed appeal before the first appellate authority. 6. The learned CIT(A) deleted the penalty levied by the Assessing Officer under section 271(1)(c) of the Act by passing

VIKESH CHATURBHUJ AGRAWAL,NAGPUR vs. I.T.O. WARD -4(1), NAGPUR

In the result, the appeal filed by the assessee stands allowed

Bench: SHRI INTURI RAMA RAO (Accountant Member), SHRI S. S. VISWANETHRA RAVI (Judicial Member)

penalty of Rs.11,21,383/- u/s 271(1)(c) of the Income Tax Act, 1961 (‘the Act’). 2. Briefly, the facts of the case are that the appellant is an individual deriving income under the head “business

DCIT CIRCLE-2, NAGPUR vs. M/S TRISTER RETAIL CONCEPTS PRIVATE LIMITED, NAGPUR

In the result, department’s appeal stands dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

penalty u/s 271(1)(c) of the Act in light of discussions in the Assessment Order and therefore, the notice issued u/s 271(1)(c) of the Act was a valid notice in view of the decision of Hon'ble High Court of Bombay in Ventura Textiles Ltd. vs. Commissioner of Income Tax, Mumbai City-II [2020] 117 taxmann.com

ASHWINKUMAR KAILASHCHAND BAJORIYA,AKOLA vs. INCOME TAX OFFICER, WARD -1-1, AKLO

The appeal of the assessee is ALLOWED

Bench: Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) आयकर अपऩल सं. / Ita No. 060/Nag/2022 निर्धारण वषा / Assessment Year : 2016-17 Ashwinkumar Kailashchand Bajoriya, Murtizapur Road, Akola - 444 004 Pan: Abjpb6524E . . . . . . . अपऩलधर्थी / Appellant

busy with time barring tax audit till 31/10/2018’ did failed to impress the Ld. AO, which resulted in levying impugned penalty of ₹10,000/- u/s 271(1)(b) of the Act. 2.3 Aforestated levy of penalty was unsuccessfully assailed before first appellate authority in an appeal; consequently the assessee came in present appeal before Tribunal on twofold grounds that

GIRDHARILAL MOTILAL AGRAWAL,BULDANA vs. ITO WARD-1, KHAMGAON, KHAMGAON

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

u/s 250 of the Act is bad in law. 2. Whether on the facts and in law, the learned CIT(A) erred in upholding action of learned AO in levying penalty under section 271(1)(c) of Rs. 5,48,421/-. 2 Girdharilal Motilal Agrawal 3. Whether on the facts and in law, the notice issued for levy of penalty

SHRI PRAKASH JIWANDAS WANJARI,NAGPUR vs. JOINT COMMISSIONER OF INCOME TAX, NAGPUR

In the result, we are of the considered view that the case on hand does not warrant levy of penalty under Section 271D of the Act

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

271-1. section 271J, clause (c) or clause (d) of sub-section (1) or sub-section (2) of section 2724, sub-section (1) of section 272AA or section 272B or sub-section (1) or sub-section (1A) of section 272BB or sub-section (1) of section 272BBB or clause (b) of sub- section (1) or clause (b) or clause

GAJANAND FINANCIAL CONSULTANCY PRIVATE LIMITED,NAGPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) NAGPUR, NAGPUR

In the result, assessee’s appeal is allowed

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

Penalty proceedings u/s. 271(1)(c) for 27 Gajanand Financial Consultancy Pvt. Ltd. ITA no.126/Nag./2025 concealment of particulars of income, of the Income Tax Act is hereby initiated separately.” vi) There is no quarrel to the proposition that the Assessing Officer had definitely come into an opinion that Tapadia Polyester Pvt. Ltd. has introduced its own unaccounted income

BHAVIKA GUNWANT PATEL,NAGPUR vs. INCOME TAX OFFICER, WARD 4(3), NAGPUR

In the result, appeal filed by the assessee are allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

penalty of ` 33,255, under section 271(1)(c) of the Act which was confirmed by the learned CIT(A) as well. The learned CIT(A), while confirming the order passed by the Assessing Officer under section 271(1)(c), observed as under:– “5.1 This appeal is being directed against the order u/s 271

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

u/s 271(1) (c) is being issued separately. 6. Sections 22 and 32 of the Regional Rural Banks Act, 1976 provides as under:- 22. Regional Rural Bank to be deemed to be a cooperative society for purpose of the Income-tax Act, 1961.- For the purpose of the Income- tax Act, 1961 (43 of 1961), or any other enactment

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

u/s 271(1) (c) is being issued separately. 6. Sections 22 and 32 of the Regional Rural Banks Act, 1976 provides as under:- 22. Regional Rural Bank to be deemed to be a cooperative society for purpose of the Income-tax Act, 1961.- For the purpose of the Income- tax Act, 1961 (43 of 1961), or any other enactment

SHRI SANJAY DHANRAJ JAIN,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), NAGPUR

In the result, assessee' appeal for A

271(1)(c)\nTribunal deleted the impugned addition as well as the penalty imposed on the\ngrounds that (i) assessee have given the names and addresses of the creditors,\n(ii) it had also produced before ITO letters of confirmation, the discharged\nhundis and particulars of the different creditors including their general index\nnumbers with the Income-tax Department

SHRI SANJAY DHANRAJ JAIN,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), NAGPUR

271(1)(c)\nTribunal deleted the impugned addition as well as the penalty imposed on the\ngrounds that (i) assessee have given the names and addresses of the creditors,\n(ii) it had also produced before ITO letters of confirmation, the discharged\nhundis and particulars of the different creditors including their general index\nnumbers with the Income-tax Department

TAJSHREE AUTOWHEELS PRIVATE LIMITED,NAGPUR vs. ACIT CIRCLE-4, NAGPUR

In the result, assessee’s appeal is allowed for statistical purposes

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

Penalty proceedings u/s 271(1)(c) of Income Tax Act, 1961 initiated separately for furnishing inaccurate particulars of income.” 6 Tajshree Autowheels Pvt. Ltd. ITA no.400/Nag./2024 6. Consequent upon the assessment order so passed by the Assessing Officer, the assessee being aggrieved carried the matter before the first appellate authority. 7. Before the learned CIT(A), the assessee furnished

SHRI SANJAY DHANRAJ JAIN,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), NAGPUR

In the result, assessee' appeal for A

271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given the names and addresses of the creditors, (ii) it had also produced before ITO letters of confirmation, the discharged hundis and particulars of the different creditors including their general index numbers with the Income-tax Department

GIGEO CONSTRUCTION CO. PVT. LTD.,,NAGPUR vs. ACIT, CENTRAL CIRCLE- 1(3),, NAGPUR

In the result, appeal filed by the assessee for the A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

business expediency are not covered by the exemptions in Rule 6DD. 2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of inflated expenses of Rs.7,36,755/- without appreciating the fact that the director of the company in his statement had submitted that there

DY. C.I.T. CENTRAL CIR.-1(3), NAGPUR vs. M/S GIGEO CONSTRUCTION CO.PVT. LTD, NAGPUR

In the result, appeal filed by the assessee for the A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

business expediency are not covered by the exemptions in Rule 6DD. 2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of inflated expenses of Rs.7,36,755/- without appreciating the fact that the director of the company in his statement had submitted that there

DY. C.I.T. CENTRAL CIR.-1(3), NAGPUR vs. M/S GIGEO CONSTRUCTION CO.PVT. LTD, NAGPUR

In the result, appeal filed by the assessee for the A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

business expediency are not covered by the exemptions in Rule 6DD. 2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of inflated expenses of Rs.7,36,755/- without appreciating the fact that the director of the company in his statement had submitted that there