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2023 (11) TMI 1108 - AT - Income TaxLevy of penalty u/s. 271(1)(c) - AO completed assessment u/s. 143 r.w.s. 153A determining the total income on account of unexplained money u/s. 69 based on seized materials - CIT(A) upholding the penalty levied on the ground that assessee has concealed the particulars of commission income - HELD THAT:- Addition is sustained by the ld. CIT(A) is based on seized materials, during the course of search. There is no estimation of income by the ld. CIT(A). Thus, case laws relied upon by the assessee are not applicable to the facts of the present case. CIT(A) as considered the Supreme Court judgment in the case of Mak Data Pvt. Ltd. [2013 (11) TMI 14 - SUPREME COURT] wherein as observed that the AO has to satisfy whether the penalty proceedings be initiated or not during the course of the assessment proceedings and the AO is not required to record his satisfaction in a particular manner or reduce it into writing. The scope of section 271(1)(c) has also been elaborately discussed by this Court in Union of India Vs. Dharmendra Textile Processors [2008 (9) TMI 52 - SUPREME COURT] and CIT vs. Atul Mohan Bindal [2009 (8) TMI 44 - SUPREME COURT] Thus, this contention of the appellant is not accepted. Also in case of Sunita Transport Pvt. Ltd. [2012 (12) TMI 981 - HIGH COURT OF GUJARAT] held since there was nothing on record showing that in original return assessee was unaware about gross concealment of income, impugned penalty order passed by authorities below was to be upheld. Levy of penalty is hereby upheld and the grounds of appeal raised by the assessee dismissed.
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