TMI Blog2019 (1) TMI 1004X X X X Extracts X X X X X X X X Extracts X X X X ..... limb of Section 271(l)(c) of the Act, the penalty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing of inaccurate particulars of income. The Tribunal, while allowing the appeal of the assessee, has relied on the decision of the Division Bench of this Court rendered in the case of COMMISSIONER OF INCOME TAX -VS- MANJUNATHA COTTON AND GINNING FACTOR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 560/- which was processed u/s 143(1) of the Act. Later on, the case was selected for scrutiny. The AO made the addition of ₹ 9,01,509/- and ₹ 4,003/- on account of capital gain and interest respectively. The AO also initiated the penalty proceedings u/s 271(1)(c) of the Act for furnishing of inaccurate particulars of income. The AO levied the penalty of ₹ 1,85,710/-. 4. Being ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce was also placed on the decision of the ITAT Delhi Bench A , New Delhi in the case of Aman Mehtani Vs DCIT, CC-I, Faridabad in ITA No. 4325/Del/2016 for the assessment year 2010-11, order dated 22.11.2017. 6. In his rival submissions, the ld. DR supported the impugned order passed by the ld. CIT(A). 7. We have considered the submissions of both the parties and perused the material availab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of the Hon'ble Supreme Court in case of M/s SSA Emerald Meadows. The extract of the Hon ble Karnataka High Court in M/s. SSA Emerald Meadows are as under which was confirmed by the Hon ble Apex Court: 3. The Tribunal has allowed the appeal filed by the assessee holding the notice issued by the Assessing Officer under Section 274 read with Section 271(l)(c) of the Income Tax Act, 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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