TMI Blog2023 (4) TMI 285X X X X Extracts X X X X X X X X Extracts X X X X ..... o be issued to the assessee. AO thereafter has to levy penalty u/s 271(1)(c) for non-satisfaction of either of the limbs. While completing the assessment, the AO has to come to a finding as to whether the assessee has concealed the income or furnished inaccurate particulars of income. As in CIT vs. Samson Perinchery [ 2017 (1) TMI 1292 - BOMBAY HIGH COURT] has held that where initiation of penalty is one limb and the levy of penalty is on other limb, then in the absence of proper show cause notice to the assessee, there is no merit in levy of penalty. We are of the view that in the present case, the basic condition for levy of penalty has not been fulfilled and that the penalty order suffers from non-exercising of jurisdiction power ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, accordingly notice u/s 148 of the Act dated 31.03.2018 was issued and served on the assessee. AO noted that notice u/s 142(1) and 143(2) were issued but there were no representation from the side of the assessee. AO thereafter noted that since there was no representation from the assessee and the assessment was getting time barred, he passed the order u/s 147/144 of the Act vide order dated 28.11.2018 wherein he made addition of Rs.15,00,000/-. On the aforesaid addition of Rs.15,00,000/-, AO vide penalty order passed u/s 271(1)(c) levied the penalty of Rs.3,13,120/-. Aggrieved by the order of penalty order passed by AO, assessee carried the matter before CIT(A) who vide order dated 15.11.2019 dismissed the appeal of the assessee. Aggriev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the contention of the assessee that no charge has been pointed out either in the assessment order or in the penalty order as to whether it is the case of concealment of income or furnishing of inaccurate particulars of income. 6. Before us, Learned DR supported the order of lower authorities. 7. We have heard the Learned DR and perused the material available on record. The perusal of the assessment order dated 28.11.2018 reveals that in the assessment order addition has been made of Rs.15,00,000/- but no satisfaction has been recorded by AO as to whether it is the case of the concealment of income or the case of furnishing of inaccurate particulars of income. AO has only stated in the assessment order that initiate penalty proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
