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2019 (12) TMI 410 - AT - Income TaxPenalty u/s 271AAA - assessment order framed u/s 143(3) r.w.s 153A - undisclosed income - HELD THAT:- A bare perusal of the penalty order shows that the AO has levied the penalty mechanically by taking difference in the return of income and assessed income. Entire penalty order is devoid of any specific findings in respect of any specific seized material or undisclosed income detected as a result of search. In our understanding of the law, it was incumbent upon the Assessing Officer to first establish that there was undisclosed income within the meaning of section 271AAA of the Act before any penalty under the said section could be levied. As relying on DURGA KAMAL RICE MILLS VERSUS COMMISSIONER OF INCOME-TAX. [2003 (4) TMI 26 - CALCUTTA HIGH COURT] burden of proof in the penalty proceedings is independent and larger than in the assessment proceedings and the assessment proceedings and penalty proceedings are different. Findings in the assessment proceedings are not sufficient to impose penalty. Further, penalty cannot be imposed when assessment has been enhanced merely on estimates. Considering the facts of the case in totality, we do not find any error or infirmity in the findings of the ld. CIT(A). - Decided against revenue.
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