TMI Blog2018 (4) TMI 1470X X X X Extracts X X X X X X X X Extracts X X X X ..... arathi Chaudhury, Judicial Member Appellant by : Shri P. K. Kapoor, C.A. Respondent by : Shri Jyoti Verma, D.R. ORDER Per Partha Sarathi Chaudhury, J. M. This appeal preferred by the assessee emanates from the order of the ld. CIT(A), Faizabad dated 28/7/2016. 2. The assessee has taken multiple and elaborate grounds of appeal, however, we find that the only grievance of the assessee is against the imposition of penalty under section 271A of the Act, which was upheld by the ld. CIT(A). 3. The facts as appearing from record are that the assessee is a contractor and notice dated 23/5/2012 under section 148 of the Act was issued by recording reasons to believe that the income to the tune of ₹ 71,88,562/- charge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the decision of the Hon'ble jurisdictional High Court in the case of CIT vs. Bisauli Tractors reported in [2008] 299 ITR 219 (Alld) upheld the imposition of penalty under section 271A to the tune of ₹ 25,000/-. 5. Being further aggrieved, assessee preferred an appeal before this Tribunal. At the time of hearing, the ld. A.R. of the assessee vehemently argued that the case law relied upon by the ld. CIT(A) in the case of CIT vs. Bisauli Tractors (supra) was substantially different in facts as compared to the case of the assessee and is not at all applicable. The ld. A.R. of the assessee strongly placed reliance upon the Third Member decision of Chennai Bench of the Tribunal in the case ACIT vs. Aggarwal Construction Co. repor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rary view was taken by SMC Bench of the Tribunal in the case of Amarjit Singh (supra) and levy of penalty was upheld. The proposed order of the learned Judicial Member is based upon above decision. In the case of Unicon Builders Contractors (supra) to which I was a party, the Bench after considering the relevant provisions of Section 44AA deleted the penalty with the following observations: 3. We have heard the rival submissions, perused the orders of tax authorities and gone through the material on record as well as the relevant provisions of law. We find that penalty Under Section 271Amay be levied, if the assessee fails to keep and maintain any such books of account and other documents as required by Section 44AA or u/r 6F. We fi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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