TMI Blog2013 (7) TMI 824X X X X Extracts X X X X X X X X Extracts X X X X ..... - Following decision of M/s.Rolex Tin Works Vs. ITO [2013 (7) TMI 825 - ITAT AHMEDABAD] - Decided in favour of assessee. - ITA No.2439-2440/Ahd/2012 - - - Dated:- 15-3-2013 - Shri A. K. Garodia And Shri Kul Bharat,JJ. For the Petitioner : Shri Anil R. Shah, AR For the Respondent : Shri T. Sankar, SR-DR ORDER Per Kul Bharat, Judicial Member:- These two appeals by the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... valid. 3. The notice of penalty issued by Assessing Officer u/s. 271(1) was vague, capable of two views and not clear as to whether the penalty was initiated for concealment of income or for furnishing inaccurate particulars of such income and therefore levy of penalty is not valid. II. On Merits:- 1. On the facts and in the circumstances of the case, the Learned CIT(A) has grossly err ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by Assessing Officer ignoring related legal decision cited by the appellant. 4. Because the observation by the Leaned CIT(A) all grounds are not dealing in para 4 of the appeal order and do not require any comment is correct also case and objected to. 3. Briefly stated facts are that assessee-company is engaged in manufacturing business of channels, patties and false ceiling channel. The cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n assessee s own case in ITA No.652-653/Ahd/2009 dated 30-04-2012 Hon ble Co-ordinate D Bench has reduced the addition and he further submitted that addition was made on estimate basis. On the contrary, Ld. SRDR strongly supported the order of Assessing Officer. 5. We have heard the rival submissions and perused the materials available on record. We find that in quantum proceedings the additio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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