TMI Blog2020 (7) TMI 210X X X X Extracts X X X X X X X X Extracts X X X X ..... not specify any of the limbs for which penalty is initiated. Order passed by Ld.AO under section 271(1)(c) is for concealment of income by filing inaccurate particulars of income. In assessment order, we note that, Ld.AO did not initiate penalty under any particular limb, vis-a-vis disallowances made. Thus it is clear that assessing officer intended to levy penalty for concealment, which either specified in notice nor in assessment order. Entire penalty proceedings is without application of mind. - Decided in favour of assessee. - ITA No.2288/Bang/2019, In CO No.3/Bang/2020 - - - Dated:- 3-7-2020 - Shri. B. R. Baskaran, Accountant Member And Smt. Beena Pillai, Judicial Member For the Appellant : Shri Manjeet Singh, Addl. CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be reduced substantially. Brief facts of the case are as under: 2. Assessee is engaged in the business of real estate development has project management, development of retails residential and commercial projects and letting the properties morals on hire for rentals etc. Assessment order was passed under section 143 (3) of the act dated 06/12/2016 wherein following disallowances were made: Employee benefit expenses ₹ 2,68,84,765/- Travelling and conveyance expenses ₹ 26,37,207/- Legal and professional expenses ₹ 9,03,270/- Disallowance under section 14A read with Rule 8D, amounting to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 59 ITR 555) and (CIT Vs. SSA S Emerald Meadows) reported in (2016) 73 Taxmann.com 241), deleted penalty. Ld. CIT (A) noted that, notice is defective, as it did not indicate, whether penalty is initiated on account of concealment of income or furnishing of inner rate particulars. Ld. CIT(A) also noted that, the same is not discernible from assessment order passed under section 143 (3) of the Act. 6. Aggrieved by order of Ld. CIT(A), revenue is in appeal before us now. 7. We have analysed the issue having regards to grounds of appeal filed and additional ground raised, which has been admitted hereinabove. 8. On perusal of assessment order, it is observed that Ld. AO initiated penalty under section 271(1)(c) of the Act, without specif ..... X X X X Extracts X X X X X X X X Extracts X X X X
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