TMI Blog2019 (1) TMI 795X X X X Extracts X X X X X X X X Extracts X X X X ..... offered any explanation. In our considered view, A.O. can initiate penalty only for the amount of commission which was not disclosed, can fall within the ambit of ‘concealment of income’. Therefore, we direct the A.O. to restrict the penalty to the tax sought to be evaded on the amount of commission. - Decided partly in favour of assessee - ITA No.1865/Hyd/2017 - - - Dated:- 9-1-2019 - Smt. P. Madhavi Devi, Judicial Member And Shri S. Rifaur Rahman, Accountant Member For the Assessee : Sri S. Rama Rao For the Revenue : Sri R. Mohan Kumar, DR ORDER PER S. RIFAUR RAHMAN, A.M.: This appeal filed by the assessee against the order of CIT(A)-1, Hyderabad dated 21.07.2017 for the assessment year 2011-12. In this appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore the Tribunal. On perusal of the assessee s affidavit and the reasons explained in the petition for condonation of delay as well as considering the smallness of the delay, we are of the opinion that there is a reasonable cause for not filing the appeal before the Tribunal within the stipulated time and therefore, we condone the delay and proceed to adjudicate the appeal on merits. 3. Brief facts of the case are that the assessee, an individual, filed his return of income declaring total income of ₹ 8,29,376/. During scrutiny proceedings, A.O. noticed that in the return of income assessee declared salary income of ₹ 9,98,414/- and claimed TDS of ₹ 1,05,899/-. During the assessment proceedings u/s 143(3) of the Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e SBH, Hyderabad. As the assessee admitted income as per Form 16, it cannot be said that such difference represents concealment. Further, in so far as commission is concerned, it is submitted that the appellant spent the entire amount towards expenditure and therefore, no income was admitted from the said receipt. Therefore, there is no concealment of income and no penalty is levyable. Further, the tax payable on the amount of ₹ 3,56,508/- would work out to ₹ 1,09,092/- .. 6. On the other hand, Learned Departmental Representative relied upon the orders of the lower Authorities. 7. Considered the rival submissions and perused the material on record. On perusal paper book filed before us, we are of the opinion ..... X X X X Extracts X X X X X X X X Extracts X X X X
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