GAURAV AJMERA,RATLAM vs. DCIT(CENTRAL)-2, INDORE

Appeal is allowed

section 271AAB intractably\nexpunges the levy of penalty u/s 270A and 271(1)(c), consequently,\nit communicates the exact charge left i.e. levy of penalty u/s.\n271AAB(1) for undisclosed income where the proceedings u/s 132

PANKAJKUMAR CHIMANLAL LODHIYA,RAKJOT vs. THE ACIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

132 of the Act, was\ncarried out at the residential, as well as business premises of the assessee, on\n20.05.2013. Thereafter, in response to the notice u/s 153A of the Act, dated\n10.10.2013, the assessee filed return of income, on 08.08.2014, declaring total\nincome of Rs.2,66,40,980/-. Accordingly, in this case, assessment u/s 143(3)\nr.w.s 153A

PATLIPUTRA BUILDERS LIMITED,PATNA vs. ACIT, CENTRAL CIRCLE-2, PATNA

In the result, all the captioned appeals of the assessee for A

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

u/s 132 of the Act. and for necessary reference Section 271 AAA of the Act is reproduced below: - “Section 271AAA in The Income Tax Act, 1961 271AAA. [ Penalty

PATLIPUTRA BUILDERS LTD,PATNA vs. ACIT CENTRAL CIRCLE-2, PATNA

In the result, all the captioned appeals of the assessee for A

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

u/s 132 of the Act. and for necessary reference Section 271 AAA of the Act is reproduced below: - “Section 271AAA in The Income Tax Act, 1961 271AAA. [ Penalty

PATLIPUTRA BUILDERS LIMITED,PATNA vs. ACIT, CENTRAL CIRCLE-2, PATNA

In the result, all the captioned appeals of the assessee for A

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

u/s 132 of the Act. and for necessary reference Section 271 AAA of the Act is reproduced below: - “Section 271AAA in The Income Tax Act, 1961 271AAA. [ Penalty

PATLIPUTRA BUILDERS LIMITED,PATNA vs. ACIT, CENTRAL CIRCLE-2, PATNA

In the result, all the captioned appeals of the assessee for A

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

u/s 132 of the Act. and for necessary reference Section 271 AAA of the Act is reproduced below: - “Section 271AAA in The Income Tax Act, 1961 271AAA. [ Penalty

PATLIPUTRA BUILDERS LIMITED,PATNA vs. ACIT, CENTRAL CIRCLE-2, PATNA

In the result, all the captioned appeals of the assessee for A

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

u/s 132 of the Act. and for necessary reference Section 271 AAA of the Act is reproduced below: - “Section 271AAA in The Income Tax Act, 1961 271AAA. [ Penalty

PATLIPUTRA BUILDERS LIMITED,PATNA vs. ACIT, CENTRAL CIRCLE-2, PATNA

In the result, all the captioned appeals of the assessee for A

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

u/s 132 of the Act. and for necessary reference Section 271 AAA of the Act is reproduced below: - “Section 271AAA in The Income Tax Act, 1961 271AAA. [ Penalty

MUKESH KUMAR RANKA,INDORE, MADHYA PRADESH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, UJJAIN, UJJAIN, MADHYA PRADESH

Appeals are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

132(4) is mandatory. The Ld. A.R. further stated that penalty u/s 271AAB of the Act is not mandatory but discretionary. The provisions of section 271AAB of the Act is pari materia with that of section 158BFA of the Act relating to block assessment and accordingly argued that the levy of penalty under section 271AAB is not mandatory but discretionary

MUKESH KUMAR RANKA,INDORE, MADHYA PRADESH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, UJJAIN, MADHYA PRADESH

Appeals are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

132(4) is mandatory. The Ld. A.R. further stated that penalty u/s 271AAB of the Act is not mandatory but discretionary. The provisions of section 271AAB of the Act is pari materia with that of section 158BFA of the Act relating to block assessment and accordingly argued that the levy of penalty under section 271AAB is not mandatory but discretionary