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TMI Blog2013 (7) TMI 824X X X X Extracts X X X X X X X X Extracts X X X X ..... at, Judicial Member:- These two appeals by the assessee are directed against the different orders of Commissioner of Income-tax (Appeals)-V, Baroda ('CIT(A) for short) of even dated i.e., 21-08-2012 pertaining to assessment years (AY) 2003-04 and 2004-05 respectively. First we take ITA No.2439/Ahd/2012 for AY 03-04. 2. The assessee has raised the following grounds of appeal:- "I. On Point of L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the case, the Learned CIT(A) has grossly erred in confirming the penalty imposed by applying for furnishing inaccurate particular of income in respect of Commission u/s. 271(1)(c) thereby completing ignoring the fact that appellant had disclosed the details with the respect to claim u/s. 44AB in the computation of income and the said claim was as per audit report along with form No. 3CD (see r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , patties and false ceiling channel. The case of assessee was picked up for scrutiny assessment and subsequently case of assessee was reopened and notice u/s. 148 of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') was issued. Subsequently the assessment u/s. 147 r.w.s. 143(3) of the Act was framed thereby the addition of Rs.4 lakh was added on account of unexplained investment was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e find that in quantum proceedings the addition made by Assessing Officer was reduced by the Hon'ble Co-ordinate Bench in assessee's own case (supra). In this case, admittedly the addition was made on estimation basis and first appellate authority reduced the penalty. Under the peculiar facts and circumstances of the present case and in view of smallness of the amount, we feel that penalty is not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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