9911796707
TMI Blog2023 (5) TMI 632X X X X Extracts X X X X X X X X Extracts X X X X ..... 11 and 2011-12. 2. Briefly, the facts are, the assessee is a resident individual deriving income from salary, house property and other sources. There was a search and seizure operation conducted u/s. 132 of the Act on the assessee on 14.03.2012. Pursuant to such search and seizure operation, proceeding u/s. 153A of the Act was initiated. In response to notice issued u/s. 153A of the Act, Assessee furnished its returns of income for the assessment years under dispute. In course of assessment proceedings, Assessing Officer found that during the search and seizure operation, a bank account held by the Assessee in HSBC Bank, Switzerland was found. It was noticed that the said bank account was opened by the Assessee in financial year 1996-97 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g for Assessee, submitted that in so far as the present assessment years are concerned, the quantum appeals are still pending before ld. Commissioner (Appeals). Therefore, without disposing of the quantum appeals, ld. first appellate authority should not have decided the penalty appeals. Without prejudice, he submitted, identical additions made by the Assessing Officer in assessment years 2006-07 to 2009-10 have been deleted by the Tribunal. In this context, he relied upon order dated 29.07.2022 passed in ITA Nos. 1805 to 1808/Del/2017. He submitted, even ld. Commissioner (Appeals) himself had deleted identical addition while deciding Assessee's appeal in assessment year 2009-10. Proceeding further, he submitted, penalty imposed u/s. 271(1) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal in assessment years 2006-07 to 2009-10 (supra) has deleted the additions made by the Assessing Officer. In fact, ld. Commissioner (Appeals) himself has deleted identical addition while deciding Assessee's appeal for the assessment year 2009-10. As discussed earlier, in the impugned order, ld. Commissioner (Appeals) has disposed of appeals for nine assessment years, starting from 1998- 99 and 2004-05 to 2011-12, confirming the penalty imposed u/s. 271(1)(c) of the Act. Pertinently, while deciding Assessee's appeals, challenging the imposition of penalty u/s. 271(1)(c) of the Act, the Tribunal, having taken note of the fact that while deciding quantum appeals, the additions on account of interest income have been deleted, conclud ..... X X X X Extracts X X X X X X X X Extracts X X X X
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