9911796707
TMI Blog2021 (9) TMI 1526X X X X Extracts X X X X X X X X Extracts X X X X ..... .R. ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- This assessee's appeal for A.Y. 2013-14, arises from order of the CIT(A)-1, Ahmedabad dated 27-05-2019, in proceedings under section 271(1)(c) of the Income Tax Act, 1961; in short "the Act". 2. The solitary ground of appeal of the assessee is directed against the order of ld. CIT(A) in sustaining the penalty levied u/s. 271(1)(c) of the act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee, the Assessing Officer observed that most of the bills were pertained to local sales, therefore, the claim of assessee for process loss of Rs. 45,17,186/- was disallowed and added to the total income of the assessee. 4. Aggrieved assessee has filed appeal before the ld. CIT(A). The ld. CIT(A) has dismissed the appeal of the assessee reiterating the facts stated by the Assessing Officer. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pect of process loss of Rs. 4,48,825/-. Without reiterating the facts as referred above in this order, the assessee has submitted that wastage was borne by the assessee in case of export sale and in case of local sale it was borne by the parties. In the assessment made u/s. 143(3), the Assessing Officer has made disallowance of processed loss to the amount of Rs. 45,17,186/-. However, the ld. CIT( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , we consider that only on the basis of not accepting the claim made by the assessee, the levy of penalty u/s. 271(1)(c) is not appropriate. Accordingly, the Assessing Officer is directed to delete the penalty. Therefore, this ground of appeal of the assessee is allowed.
6. In the result, the appeal of the assessee is allowed.
Order pronounced in the open court on 17-09-2021 X X X X Extracts X X X X X X X X Extracts X X X X
|
