Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (3) TMI 573 - AT - Income TaxPenalty u/s 271(1)(c) of the Act – Held that:- The CIT(A) has deleted the penalty on a different ground on merits - The date of receipt of the order by the CCIT or CIT is not on record - the order of the CIT(A) is dated 13/03/2008 and subsequent thereto, the show cause notice was issued in February, 2009 - Six months from February, 2009 would expire in Aug., 2009 but no penalty order has been passed pursuant to the show cause notice dated February, 2009 - It is a clear case of estimation of cost of construction and as rightly pointed by the CIT(A) there was no material found during the course of search on the basis of which such addition has been made – there is no reason to interfere with the order of the CIT(A) deleting penalty – Relying upon COMMISSIONER OF INCOME TAX Versus AERO TRADERS (P) LTD. [2010 (1) TMI 32 - DELHI HIGH COURT] - every addition will not automatically attract penalty – thus, penalty is not leviable on estimated income. - Decided against the revenue. Bar of limitation of time u/s 275 of the Act – Time-barred penalty orders – Held that:- The ITAT had passed the order on 26/03/2009 while the AO has given effect to the ITAT’s order on 31/12/2010 and the penalty order is passed on 29/06/2011 i.e. within six months from the date of the order giving effect to the ITAT’s order - the date of receipt of ITAT’s order by CCIT or CIT is not on record – thus, no adjudication is required as the relief is already granted to the assessee – Decided against Assessee.
|