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2014 (8) TMI 802 - AT - Income TaxPenalty u/s 271(1)(c) – Additions deleted in quantum proceedings – Held that:- CIT(A) had deleted the penalty by considering the order passed by the Tribunal in quantum proceedings deleting the additions, forming foundation for the imposition of penalty – assessee was fair enough to state that the Revenue’s appeal against the Tribunal order in quantum proceedings for AY 2003-04 has been accepted by the Hon’ble High Court to the extent that such order has been set aside by restoring the matter to the lower authorities - No objection was raised by the revenue – thus, the order is set aside and the matter is remitted back to the AO for fresh adjudication – Decided in favour of Revenue. Variation in the figures of sales as per the trading account and sales tax order – Held that:- The AO has categorically recorded that the assessee did not furnish any explanation about the difference in the figures of turnover included in the annual accounts and month-wise details furnished during the course of assessment proceedings - CIT(A) did not call upon for any remand report from the AO – thus, the matter is liable to be remitted back to the AO – Decided partly in favour of Revenue. Expenses on ad-hoc basis – Held that:- The AO observed that during the course of assessment proceedings that the assessee could not produce certain bills/vouchers of the amounts claimed under the heads Advertisement expenses, Conveyance, Furnace repairs, Office maintenance, Packing and forwarding expenses, Printing and stationery, Traveling expenses, Vehicle running and maintenance, Freight and carriage etc. - certain expenses claimed by the assessee were not backed by proper evidence – the order of the CIT(A) is upheld – Decided against Assessee.
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