TMI Blog2024 (4) TMI 136X X X X Extracts X X X X X X X X Extracts X X X X ..... re to record any receipt in books of accounts. However, in the case of the assessee, there is no such failure to record any receipt in the books of assessee. The addition is on account of disallowance of certain deductions claimed under Chapter-VIA and Section 24 of the Act. Therefore, AO has levied penalty under incorrect section. Therefore, the penalty is not-maintainable. Hence, we direct the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A.O has initiated penalty u/s 270A on a vague charge of furnishing inaccurate particulars of income also in the notice u/s 274 r.w.s 270A, the exact limb of section 270A(9) which has been allegedly violated by the assessee has not been specified and hence, the penalty order passed u/s 270A inconsequence of such illegal notice may be declared as null and void in law. 3. The learned CIT-(A) failed t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se (e) is for failure to record any receipt in books of accounts. However, in the case of assessee, in the assessment order, the AO has disallowed assessee s claim of Chapter-VIA deduction and has disallowed deduction claimed under section 24. Therefore, penalty has been levied under wrong section and hence it is not maintainable. Submission of ld.DR : 3. The ld.Departmental Representative(ld.DR) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under this Act, direct that any person who has under-reported his income shall be liable to pay a penalty in addition to tax, if any, on the under-reported income. .. 9) The cases of misreporting of income referred to in sub-section (8) shall be the following, namely: (a) misrepresentation or suppression of facts; (b) failure to record investments in the books of account; (c) claim of expenditure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee for A.Y. 2018-19 AO has levied penalty of Rs. 4,10,974/- under section 270A(9)(e) of the Act. However, the addition is made on account of disallowance of Chapter-VIA deduction and deduction under section 24 of the Act. 6. Since we have already discussed the issue at length and the facts of ITA No.1323/PUN/2023 are similar to the facts of ITA No.1324/PUN/2023, therefore, our decision i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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