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M/s Sigma Paradise Versus ACIT, Ghaziabad Circle, Ghaziabad

2018 (2) TMI 737 - ITAT DELHI

Penalty u/s. 271 - defective notice - Held that:- AO has initiated the penalty for concealing the particulars of income or furnishing inaccurate particulars of income as well as in the penalty order dated 29.6.2016 he held that the assessee had without reasonable cause concealed the particulars of his income, and / or furnished inaccurate particulars of income assessed. Therefore, in view of above, the penalty in dispute is not sustainable in the eyes of law and needs to be deleted. See CIT & An .....

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S. Sidhu, Judicial Member Assessee by : Sh. Alok Gupta, CA Department by : Sh. Sampoorananand, Sr. DR ORDER Per H. S. Sidhu, JM This appeal by the Assessee is directed against the Order of the Ld. Commissioner of Income Tax (Appeals), Ghaziabd dated 30.6.2017 pertaining to assessment year 2013-14. 2. The grounds of appeal raised in the assessee s appeal read as under:- GROUNDS OF APPEAL Ground No. 1 That on the facts and circumstances of the case and in law, the order passed by Ld. CTT (A) is b .....

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pense cannot per se amount to furnishing inaccurate particulars of income. Ground No. 4.1 That the Ld. CIT (A) erred in observing that the assessee had concealed the Interest Income amounting ₹ 1,03,562/-. In fact, the assessee had explained the reason since it was a clerical error, and itself offered interest income to be taxed b-efore the same was pointed out by Assessing Officer. Ground No. 4.2 That the Ld. CIT (A) erred in confirming the order passed by Assessing Officer, in spite of t .....

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income. Also the notice for 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 29.12.2015 for initiation of penalty proceedings and copy of penalty order dated 29.12.2015 was filed before the Bench. He further stated that entire penalty proceedings stand vitiated as the notice itself is not in accorda .....

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trary, Ld. DR relied upon the orders of the authorities below. 6. I have heard both the parties and perused the orders passed by the Revenue Authorities alongwith the relevant record available with us. Firstly, I have perused the Notice dated 29.12.2015 issued by the AO for initiating the penalty proceedings and directing the assessee to appear before him at 11.30 AM on 29/01/2016 and issued a Show Cause to the assessee stating therein that - …..it appears that you:-…….. &he .....

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ty for concealing the particulars of income or furnishing inaccurate particulars of income as well as in the penalty order dated 29.6.2016 he held that the assessee had without reasonable cause concealed the particulars of his income, and / or furnished inaccurate particulars of income assessed. Therefore, in view of above, the penalty in dispute is not sustainable in the eyes of law and needs to be deleted. My aforesaid view is fortified by the following decisions:- i) CIT & Anr. Vs. M/s SS .....

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