TMI Blog2019 (11) TMI 1409X X X X Extracts X X X X X X X X Extracts X X X X ..... nsurance ltd [ 2019 (8) TMI 409 - DELHI HIGH COURT] we hereby direct the penalty levied by the Revenue be obliterated. - Decided in favour of assessee. - ITA No. 5432/Del/2016, ITA No. 5433/Del/2016 - - - Dated:- 5-11-2019 - Sh. Amit Shukla, Judicial Member and Dr. B. R. R. Kumar, Accountant Member For the Assessee : Sh. P. S. Kashyap, CA For the Revenue : Sh. N. K. Bansal, Sr. DR ORDER Per Dr. B. R. R. Kumar, Accountant Member : The present appeals have been fi led by the assessee against the orders of the ld. CIT(A)-3, Gurgaon dated 16.08.2016. 2. Since, the issues involved in both the appeals are common, they were heard together and are being disposed off by common order. 3. In ITA No. 5432/Del/2016, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of section, the penalty proceedings have been initiated has never been raised before the First Appellate Authority and has been raised for the first time before the Tribunal (para 16). Further it was held that neither the assessee has moved in an application for raising any additional ground nor he has been able to bring out any question of law which can be raised before the Appellate Authority for the first time (para 17). 5. During the arguments before us, the assessee has taken up at ground no. 3 that the Assessing Officer has not specified that under which limb he is initiating the penalty proceedings i.e. for concealment of income or for furnishing of inaccurate particulars. Further, the Ld.AR brought to our notice that the case is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aushalya [1994] 75 Taxman 549 (Bombay)/[1995] 216 ITR 660 (Bombay) and other cases filed along with the written submission. 7. Heard the arguments of both the parties and perused the material available on record. 8. We find that, while passing the assessment order, the Assessing Officer held as under: Issue requisite documents. Charge interest u/s 234A, B C as applicable. Issue penalty notice u/s 271(1)(c). 9. In the notice u/s 274 read with section 271 of the Income Tax Act, 1961/271(1)(c) read with explanation 5 of the I.T. Act, 1961 issued by the Assessing Officer on 28.12.2011, the Assessing Officer has not specified under which limb the penalty is being proposed. It reads as under: *have concealed the particulars of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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