RAJENDRA GAIKWAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,, PUNE
In the result, the appeal of the assessee is allowed
ITA 1027/PUN/2017[2011-12]Status: DisposedITAT Pune01 Aug 2019AY 2011-12
Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.1027/Pun/2017 िनधा"रण वष" / Assessment Year : 2011-12 Rajendra Gaikwad, M/S. Shah Khandelwal Jain & Associates Chartered Accountants, Level 3, Riverside Business Bay, Plot No.84, Wellesley Road, Near Rto, Pune-411001. .......अपीलाथ" / Appellant Pan : Aimpg7188F बनाम / V/S. Dcit, Circle-8, ……""यथ" / Respondent Pune. Assessee By : Shri Rajeev Thakkar Revenue By : Shri Vishwas Mandhe सुनवाई क" तारीख / Date Of Hearing : 22.07.2019 घोषणा क" तारीख / Date Of Pronouncement : 01.08.2019 आदेश / Order Per D. Karunakara Rao, Am: This Appeal Is Filed By The Assessee Against The Order Of Cit(A)-9, Pune Dated 13.01.2017 For The Assessment Year 2011-12. 2. The Grounds Raised By The Assessee Are As Under :- “1. That On The Facts & Circumstances Prevailing In The Case & As Per The Provisions & Scheme Of The Income-Tax Act, 1961 (“The Act”), The Ld. Commissioner Of Income-Tax (Appeals) (“Ld. Cit(A)”) Erred In Confirming The Validity Of The Notice Under Section 271(1)(C) R.W.S. 274 Of The Act Issued By The Ld. Assessing Officer (“Ld. Ao”). Just & Proper Relief Be Granted To The Appellant In This Respect. 2. That On The Facts & Circumstances Prevailing In The Case & As Per The Provisions & Scheme Of The Act, The Ld. Cit(A) Erred In Confirming The Penalty Under Section 271(1)(C) Considering The Explanation & Legal
For Appellant: Shri Rajeev ThakkarFor Respondent: Shri Vishwas Mandhe
Section 143(3)Section 271(1)Section 271(1)(c)
150/-.
Further, the Assessing Officer initiated the penalty proceeding stating that “Since the assessee has concealed particulars of income, the penalty under section 271(1)(c) is initiated”. (para 2 of the assessment order).
4. In the penalty order, the Assessing Officer clearly stated that the levy of penalty is for the default of “concealment of income and the assessee
