TMI Blog2017 (12) TMI 1466X X X X Extracts X X X X X X X X Extracts X X X X ..... eturn of income files u/s.153A. The ambiguity in the mind of the AO is obvious at the time of initiation as well as levy of penalty proceedings. - Decided in favour of assessee. - ITA No. 324/PUN/2015 - - - Dated:- 30-8-2017 - SHRI D.KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM For The Assessee : Shri Nikhil Pathak For The Revenue : Shri Ajay Modi ORDER PER D. KARUNAKARA RAO, AM : This appeal is filed by the assessee against the order of CIT(A)-12, Pune dated 28-01-2015 passed u/s.271(1)(c) of the Act for the Assessment Year 2009- 10. AO levied penalty of ₹ 69,74,391/- u/s.271(1)(c) of the Act. 2. Assessee raised 8 grounds which are either argumentative or general in nature. While dismissing the above s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1)(c) is bad in law and the penalty levied may kindly be deleted. 5. Elaborating on the said additional and legal ground, Ld. Counsel for the assessee brought our attention to the order of the AO which contained the initial satisfaction for initiating the penalty u/s.271(1)(c) of the Act in respect of the said additional income of ₹ 2 crores. He read out the relevant lines from Para No.5 of the order and submitted the same is not specific to any one of the limbs provided in clause (c) to section 271(1) of the Act. Further, bringing our attention to the penalty order dated 27-09-2013, Ld. Counsel for the assessee read out the relevant lines from Para No.5 and submitted that the AO is ambiguous in his mind regarding the correctnes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... additional ground and perused the assessment order/penalty order and the two notices issued u/s.274 and find the following operational lines are found worth to be extracted in this order : (1) Extract from the assessment order (Para No.5) : 5. . . . . . . . . . . . Hence, provisions of Explanation -5A of sec.271(1) are clearly applicable in this case and assessee has concealed income as per the provisions. (2) Extract from the penalty order (Para No.5) : 5. In view of above discussion, the undersigned is of the considered view that the assessee has concealed the income or has furnished inaccurate particulars of such income and is liable for penalty u/s.271(1)(c) of the I.T. Act, 1961 . . . . . . . . . . (3) Extract ..... X X X X Extracts X X X X X X X X Extracts X X X X
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