2022 (1) TMI 929

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..... is appeal filed by the assessee is directed against the order dated 29.12.2018 passed by the Ld. CIT(A)-3, Gurgaon arising from penalty order passed u/s. 271AAA of the Income Tax Act for the assessment year 2013-14. The assessee has raised following grounds:- "1) That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of th .....

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..... idered the material on record. The AO has levied the penalty u/s. 271AAA vide order dated 22nd February 2018 in respect of the two additions of Rs. 10,22,435/- on account of unexplained jewellery and Rs. 50,000/- on account of unexplained cash respectively made while framing the assessment u/s. 153A of the Income Tax Act. The assessee has challenged the levy of penalty before the Ld. CIT(A) but co .....

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..... and not belong to the assessee. Thus, the said jewellery cannot be added in the income of the assessee. The CIT(A) was not justified in confirming this addition to the extent of 200 gms jewellery in the hands of the assessee, because the entire jewellery belong to the wife of the assessee as per the statement of the son of the assessee. Therefore, Ground Nos. 1 and 2 are allowed. As regards Ground .....

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