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2018 (4) TMI 1358 - AT - Income TaxPenalty u/s 271(1)(c) - assessee surrendered the amount before the settlement commission u/s 245D - Held that:- In the case in hand all the facts were already on record of assessment proceedings however, the same were not available before us particularly the statement recorded u/s 132(4), the seized material as well as alleged surrendered made by the assessee before the settlement commission and consequent surrender in the assessment proceedings. Since, these facts are relevant for deciding the issue whether the penalty has been levied by the AO on the sum which was surrendered by the assessee or against the addition made by the AO. The assessee has raised this issue first time before this Tribunal and in the absence of the said issue raised before the authorities below the relevant facts though available on the assessment record were not referred in the impugned orders by the authorities below. Thus we set aside these appeals to the record of the ld. CIT(A) for considering the additional ground raised by the assessee which has been admitted by us for adjudication on merits - Decided in favour of assessee for statistical purposes.
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