TMI Blog2018 (11) TMI 1630X X X X Extracts X X X X X X X X Extracts X X X X ..... ee. - I.T.A. No. 383/Viz/2018 - - - Dated:- 16-11-2018 - SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER For the Appellant : Smt Suman Malik, DR For the Respondent : Shri Y Anil Kumar, AR ORDER PER D.S. SUNDER SINGH, Accountant Member: This appeal is filed by the revenue against the order of the Commissioner of Income Tax(Appeals) [CIT(A)], Visakhapatnam vide I.T.A.No.0177/2015-16/ITO-W-1, VZM/2017-18dated 20.04.2018 for the assessment year 2012-13. 2. In this case, the assessee filed return of income on 31.03.2014 admitting total income of ₹ 2,48,000/- after claiming deduction under Chapter VIA of the Income Tax Act, 1961 (herein ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al in the case of Konchada Sreeram in I.T.A. No.388/Viz/2015 while cancelling the penalty. For ready reference, we extract relevant part of the order of the Ld.CIT(A) in page No.6 to 6.3. which reads as under : 6. I have considered the submissions made and also gone through the information furnished during appeal proceedings The AO initiated the penalty proceedings as the assessee failed to furnish the sources for the investment made. The penalty notice issued by the AO reads as under : Whereas in the course of proceeding before me for the Asst. Year 2012- 13 it appears to me that you have concealed the particulars of your income or furnished inaccurate particulars of such income 6.1. From the notice issued, it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aw, much less a substantial one, arising for consideration warranting admission of this appeal. 6.2. On the similar facts, the Hon'ble ITAT, Visakhapatnam in the case of Konchada Sreeram(ITA No.388/Viz/2015) following the decision of the Hon'ble Andhra Pradesh High Court cited supra and its own decision in the cases of Narayana Reddy Enterprises (229/Viz/2015) and Smt.Makina Annapurna (ITA Nos.604 605/Vizag/2014) held that non-striking of the irrelevant column renders the notice issued u/s 271 as invalid. 6.3. Respectfully following the decision cited supra, it is held that the notice issued u/s 271 is invalid and consequent penalty imposed by the AO is cancelled. 6. Since the Ld.CIT(A) has followed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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