NSE IT LTD,MUMBAI vs. DCIT 8(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.5935/Mum/2014 (नििाारण वर्ा / Assessment Year: 2005-06) बिाम/ M/S. Nse. It Ltd, Dcit 8(2), Mumbai Trade Globe, Ground Floor, Andheri Kurla Road, V. Andheri (E), Mumbai 400059 स्थायी ऱेखा सं./ Pan : Aabcn0159P (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

133A and the AO accepted the revised return but imposed penalty under s. 271 (1) (c) on the basis that said income had been suppressed by the assessee. It was held that imposition of penalty was justified since revised return had been filed under compulsion arising from detection during survey. In Smt. B. Indira Rani

ACIT CEN CIR 34, MUMBAI vs. JATIN J.SHAH, MUMBAI

In the result, all appeals of the revenue are dismissed

penalty u/s. 271(1)(c) is not leviable. The ratio of this judgment is return, which lead to issue of notice u/s. 148. The fact remain that the appellant has filed return voluntarily and declared income surrendered during survey u/s. 133A

ACIT CC 34, MUMBAI vs. JAY FAB, MUMBAI

In the result, all appeals of the revenue are dismissed

penalty u/s. 271(1)(c) is not leviable. The ratio of this judgment is return, which lead to issue of notice u/s. 148. The fact remain that the appellant has filed return voluntarily and declared income surrendered during survey u/s. 133A

ACIT CEN CIR 34, MUMBAI vs. JAY FAB, MUMBAI

In the result, all appeals of the revenue are dismissed

penalty u/s. 271(1)(c) is not leviable. The ratio of this judgment is return, which lead to issue of notice u/s. 148. The fact remain that the appellant has filed return voluntarily and declared income surrendered during survey u/s. 133A

PUNJAB SIND DAIRY PRODUCTS P.LTD,MUMBAI vs. DCIT CEN CIR 33, MUMBAI

In the result, appeal of the assessee in ITA no

Bench: Shri Pawan Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6246 & 6247/Mum/2017 (नििाारण वर्ा / Assessment Year : 2006-07 & 2007-08) बिाम/ Punjab Sind Dairy Product Acit Central Circle- P. Ltd., 33,Room No. 32(3), Ag-2 Cama Industrial Aayakar Bhavan, V. Estate, Walbhatt Road, Mumbai-400020 Goregaon (W), Mumbai- 400063 स्थायी ऱेखा सं./ Pan: Aadcp5419Q (अपीऱाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri. K.K. Lalkaka (Ar) Revenue By: Shri. D.G Pansari (Dr) सुनवाई की तारीख /Date Of Hearing : 16.01.2019 घोषणा की तारीख /Date Of Pronouncement : 26.03.2019 आदेश / O R D E R Per Ramit Kochar: These Two Appeals, Filed By Assessee, Being Ita No. 6246 & 6247/Mum/2017, Are Directed Against Two Separate Appellate Orders Both Dated 22.08.2017 In Appeal No. Cit(A)-53/Dccc-5(2)/It- 123/2012-13 & Cit(A)-53/Dccc-5(2)/It-124/2012-13 Respectively, Passed By Learned Commissioner Of Income Tax (Appeals)-53, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2006-07 & 2007- 08 Respectively, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Two Separate Penalty Orders Both Dated 29.03.2012 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 271(1)(C)

penalty levied by the AO u/s 271(1)(c) of the 1961 Act both on merits and on legal grounds, vide appellate order dated. 22.08.2017. 9. Aggrieved by the appellate order dated 22.08.2017 passed by learned CIT(A) , the assessee has now filed an appeal with tribunal. The contentions are raised by learned counsel for the assessee that assessee

PUNJAB SIND DAIRY PRODUCTS P.LTD,MUMBAI vs. ACIT CEN CIR 33, MUMBAI

In the result, appeal of the assessee in ITA no

Bench: Shri Pawan Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6246 & 6247/Mum/2017 (नििाारण वर्ा / Assessment Year : 2006-07 & 2007-08) बिाम/ Punjab Sind Dairy Product Acit Central Circle- P. Ltd., 33,Room No. 32(3), Ag-2 Cama Industrial Aayakar Bhavan, V. Estate, Walbhatt Road, Mumbai-400020 Goregaon (W), Mumbai- 400063 स्थायी ऱेखा सं./ Pan: Aadcp5419Q (अपीऱाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri. K.K. Lalkaka (Ar) Revenue By: Shri. D.G Pansari (Dr) सुनवाई की तारीख /Date Of Hearing : 16.01.2019 घोषणा की तारीख /Date Of Pronouncement : 26.03.2019 आदेश / O R D E R Per Ramit Kochar: These Two Appeals, Filed By Assessee, Being Ita No. 6246 & 6247/Mum/2017, Are Directed Against Two Separate Appellate Orders Both Dated 22.08.2017 In Appeal No. Cit(A)-53/Dccc-5(2)/It- 123/2012-13 & Cit(A)-53/Dccc-5(2)/It-124/2012-13 Respectively, Passed By Learned Commissioner Of Income Tax (Appeals)-53, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2006-07 & 2007- 08 Respectively, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Two Separate Penalty Orders Both Dated 29.03.2012 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 271(1)(C)

penalty levied by the AO u/s 271(1)(c) of the 1961 Act both on merits and on legal grounds, vide appellate order dated. 22.08.2017. 9. Aggrieved by the appellate order dated 22.08.2017 passed by learned CIT(A) , the assessee has now filed an appeal with tribunal. The contentions are raised by learned counsel for the assessee that assessee

SUCCESS DEVELOPERS P.LTD,MUMBAI vs. DCIT CEN CIR 10, MUMBAI

Bench: Shri R. C. Sharma, Am & Shri Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 5608/Mum/2015 (निर्धारणवर्ा / Assessment Year: 2011-12)

survey u/s 133A, it would automatically follow that income had been concealed in the return of income filed, the assessment whereof was completed on 28th March, 2013. The provisions of sub-section 1 of section 271 suggest that if the assessee furnishes inaccurate particulars coupled with absence and satisfactory explanation, that would per se make assessee liable

SANDEEP BHIMRAO LAD,MUMBAI vs. DCIT CIRCLE-3, THANE

Bench: Shri S. Rifaur Rahman, Am & Shri Ram Lal Negi, Jm आयकरअपीलसं./ I.T.A. No. 1620/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2009-10)

u/s 271(1)(c) could be levied in case of loss return 6. MAK Data P. Ltd vs. CIT f38 taxmann.com 448 (SC)/[2013] 358 ITR 593 (SC)/[2013]263 CTR11 Where Hon'ble Supreme Court held that Under Explanation 1 to s. 271(1)(c), voluntary disclosure of concealed income does not absolve assessee of s. 271