9911796707
TMI Blog2016 (11) TMI 1053X X X X Extracts X X X X X X X X Extracts X X X X ..... ng that short and small issues are involved in these appeals, we proceed to dispose of these appeals after hearing the Ld. Departmental Representative. First we take up the assessee's appeal bearing ITA No.7093/M/2014. ITA No.7093/M/2014 3. The assessee, in this appeal, has agitated the confirmation of penalty under section 271D read with section 269SS of the Income Tax Act, 1961. The Assessing Officer (hereinafter referred to as the AO) noted that the assessee had deposited Rs. 17 lakh in his bank account during financial year 2008-09. Out of this amount the assessee had received a loan amount of Rs. 8 lakh which was deposited in the bank account in cash. The said loan was received in the following manner: i) Rs. 2,50,000/- from Bhuvne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee has explained that the amount was out of the proceeds of agricultural income which was deposited pertaining to the share of the family members which was deposited in the bank account held by him jointly with his son. Further, we find that the assessee had also furnished copies of affidavits wherein the wife of the assessee Sayarkunwar Deora and daughter in law of the assessee Bhuvnesh Deora have confirmed in their respective affidavits that they jointly owned land with their family members and during the year they had received their share of agricultural income which was deposited in the joint bank account of the assessee with his son Shri Narendra Bhuvnesh Deora. It is pertinent to mention here that the assessee is the husband of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rdered to be deleted. ITA No.7094/M/2014 8. Now coming to the assessee's appeal bearing ITA No.7094/M/2014. The assessee, in this case, has agitated the levy of penalty under section 271(1)(c) of the Act of Rs. 46,510/-. As observed above, the AO found certain amount deposited in the bank account of the assessee. Out of the said amount, the assessee claimed that Rs. 2,50,000/- was his own agricultural income and the remaining amount of Rs. 8 lakhs was the income of the family members which was deposited in the said bank account. The assessee produced the relevant documents of ownership of the land, however, submitted that he had given the said land on contract and he himself did not carry out the agricultural operations. It was explained ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he claim of the assessee by showing any evidence that no agricultural activity was carried out on the said land. The plea of the assessee that the land was given on contract to the other person has not been rebutted but the additions have been made due to some lack of evidence regarding the carrying out of the operations. Undisputedly, the assessment proceedings and the penalty proceedings are separate and distinct proceedings. Merely because, the additions have been made into the income of the assessee, because of lack of evidence regarding the claim put-forth by the assessee, but that itself is not sufficient for levy of penalty under section 271(1)(c) of the Act. The additions in this case have been made not because that the AO has dispr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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