TMI Blog2020 (8) TMI 466X X X X Extracts X X X X X X X X Extracts X X X X ..... transactions were undertaken through his bank accounts and receipts are through banking channels. Thus, the assessee has clearly explained that he was in receipt of the impugned sum from the sale of Casurina plant. It is also seen from the orders of the lower authorities that the AO issued summons to the purchaser, Shri. Chandrakesavan and levied penalty for non-compliance of the purchaser and compelled the assessee to appear u/s. 131. The assessee agreed to admit additional income on a condition that penalty proceedings should not be initiated. However, when the AO has initiated penalty proceedings and sought for explanation, the assessee explained his transactions and brought to the notice of the AO that the impugned transactions were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssued notice u/s. 247 r.w.s 271(1)(c) of the Act and after considering the assessee s reply, levied penalty u/s. 271(1)(c) of the Act. Aggrieved, the assessee filed appeals against both the orders before the CIT(A). The CIT(A) dismissed the appeals. Aggrieved against those orders, the above appeals were filed by the assessee. 3. On the quantum appeal, the Ld. AR submitted that the Ld. CIT(A) erred in confirming the addition made by the AO without adverting the evidences furnished by the assessee from Shri. Chandrakesavan, by way of confirmation letters dated 29.10.2015 (2nos.) and 05.01.2016, the certificates issued by the Village Administrative Officer evidencing the ownership of agricultural land and the availability of casurina in tho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the purchaser of Casurina has given the bank details in which the sale proceeds are deposited, all the receipts are through cheque only and therefore, the assessee pleaded that penalty proceedings should be dropped. In spite of it, the Assessing Officer levied the penalty and the Ld. CIT(A) without appreciating the facts and circumstances of the case sustained the penalty. In this regard, the Ld. AR submitted that the penalty proceedings are separate from the assessment proceedings. During the penalty proceedings, when the assessee has submitted the confirmation letters, certificates from Village Administrative Officer and bank particulars and explained the transaction, the levy of penalty cant be made without recording a finding that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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