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Mr. Ashok Kumar Chordia Versus DCIT, Central Circle-1 New Delhi

2017 (12) TMI 575 - ITAT DELHI

Levy of penalty u/s 271(1)(c) - defective notice - Held that:- As perused the Notice dated 26.3.2013 issued by the AO for initiating the penalty and directing the assessee to appear before him at 11.30 AM on 26/04/2013 and issued a Show Cause to the assessee stating therein that “…..you have concealed the particulars of your income or furnished inaccurate particulars of such income…”. After perusing the notice dated 26.3.2013 issued by the AO to the assessee, we are of the view that the AO has i .....

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a Karan, CIT(DR) ORDER Per H. S. Sidhu, JM These appeals by the Assessee are directed against the respective Orders, all dated 11.9.2014 of the Ld. Commissioner of Income Tax (Appeals)-III, New Delhi pertaining to assessment year 2007-08, 2008-09 and 2009-10 respectively. Since the issues involved in these appeals are identical and common, hence, the appeals were heard together and are being disposed of by this common order for the sake of convenience, by dealing with ITA No. 5788/Del/2014 (AY 2 .....

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penalty under section 271(1)(c) of the Act by ignoring the fact that the appellant had neither furnished inaccurate particulars of his income nor concealed his income. 4. That the Ld. CIT(A) has grossly erred in confirming the levy of penalty under section 2712(1)(c) of the Act by summarily brushing aside the submissions of the appellant. The appellant craves leave to add, amend, alter, or withdraw any of the grounds of appeal before or at the time of hearing of this appeal. 2.1 In other 02 App .....

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7; 1 Crore as his additional income comprising for different assessment years ranging from assessment year 2007-08 till assessment year 2011-12. For the year under consideration, the assessee declared a sum of ₹ 10,00,000/- as an additional income. Since in the return of income filed under Section 153A of the Act, the assessee disclosed this additional income over and above the income declared in the return of income filed under section 139(1) of the Act, hence, the AO held that on additio .....

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e penalty proceedings ought to fail, the penalty was initiated for concealment of income. However, the Notice dated 26.3.2013 for levy of penalty u/s. 271 read with Section 274 of the I. T. Act, 1961 was ambiguous and vague in as much as it is stated both concealment of particulars of income or furnishing of inaccurate particulars. For the sake of reference, the copy of Notice dated 26.3.2013 for initiation of penalty proceedings and copy of penalty order dated 30.9.2013 were filed before the Be .....

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.2016. In view of above, he requested that the penalty in dispute may be cancelled and appeal of the assessee may be allowed. 6. On the contrary, Ld. DR relied upon the orders of the authorities below. 7. We have heard both the parties and perused the orders passed by the Revenue Authorities alongwith the relevant records available with us. Firstly, we have perused the Notice dated 26.3.2013 issued by the AO for initiating the penalty and directing the assessee to appear before him at 11.30 AM o .....

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e has concealed particulars of his income, which is contrary to law. In view of above, the penalty is not sustainable in the eyes of law. Our aforesaid view is fortified by the following decisions:- i) CIT & Anr. Vs. M/s SSA s Emerald Meadows - 2015 (11) TMI 1620 - Karnataka High Court has held that Tribunal has correctly allowed the appeal filed by the assessee holding the notice issued by the Assessing Officer under section 274 read with Section 271(1)(c) to be bad in law as it did not spe .....

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