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TMI Blog2021 (8) TMI 1079X X X X Extracts X X X X X X X X Extracts X X X X ..... DR) Assessee by : Shri Prakash Jhunjhunwala (AR) ORDER PER SAKTIJIT DEY, JM Captioned appeals by the revenue are against a common order dated 26.06.2019 of learned Commissioner of Income Tax (Appeals)-3, Mumbai deleting the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 for the assessment years 2009-10 and 2010-11. 2. Briefly the facts are, the assessee, a resident compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me supporting details. However, the AO was not fully satisfied with the documentary evidences furnished by the assessee. Thus, he ultimately treated purchases worth Rs. 1,34,25,500/- and Rs. 93,46,750/- in assessment years 2009-10 and 2010-11 respectively, as non-genuine and added back to the income of the assessee. Assessee contested the aforesaid additions before learned Commissioner (Appeals). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd 2010-11 respectively. While deciding assessee's appeals challenging imposition of penalty, learned Commissioner (Appeals) deleted the penalty imposed. 3. At the very outset, the learned Counsel for the assessee submitted that the appeals filed by the revenue are not maintainable due to low tax effect. As regards the merits, he strongly relied upon the observations of learned Commissioner (Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Thus, ultimately, the additions leading to the imposition of penalty were made on estimate basis. It is further evident from the assessment order, in response to the notice issued under section 133(6) of the Act, some of the selling dealers responded and furnished the details of sales made by them. Thus, the admitted factual position is, some of the dealers alleged to be non-genuine have confirm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... received from external sources like law enforcement agencies in the category of CBI, DRI etc. Presently, we dealing with proceeding for imposition of penalty under section 271(1)(c) of the Act which is independent from the assessment proceedings. Therefore, it cannot be said that the penalty imposed is based on information received from external sources as contemplated under paragraph 10(e) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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