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TMI Blog2018 (2) TMI 167X X X X Extracts X X X X X X X X Extracts X X X X ..... , 1961 [hereinafter referred to as 'the Act' for short]. Since the issues in all the appeals of both the assessees were heard together pertaining to same group of assessee involving identical issues, therefore, we are disposing them off together by this common order for the sake of convenience and brevity. 2. First of all, we are taking up the matter of Shri Subhash Sathe in ITA No. 2767/DEL/2017 for assessment year 2007-08. Our order herein below shall be identically applicable in all the other years in the case of both the assessees. ITA No. 2767/DEL/2017 [A.Y. 2007-08] 3. The assessee has raised the following grounds of appeal: "The Ld. Commissioner of Income Tax (Appeals) has erred in law while confirming the levy of penal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed upon by both the sides. It is pertinent to reproduce the order of the Assessing Officer u/s 271(1)(b) of the Act as under: "Notices u/s 142(1) of the IT Act were issued to theassessee on 10/12/2012 for compliance by 28/12/2012, 06/05/2013 for compliance by 15/05/2013 & 11/07/2013 for compliance by 18/07/2013. The assessee has filed reply vide letter dated 15/05/2013 and vide letter dated 17/0772013. The reply furnished by the assessee is not in line with the queries raised in the above said notices; hence the reply of the assessee will not be treated as compliance to the notice issued u/s 142(1) of the IT Act 1961. Accordingly penalty notice u/s 271(1) (b) of the IT Act 1961 was issued to the assessee on 13/12/2013 requesting him to ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee has continually not accepted the fad regarding having the alleged foreign bank account. In this regard, it is submitted that at the outset, the assessee had only provided the details of Indian Bank accounts which itself demonstrate that no foreign account was maintained by the assessee. Subsequently, after resuming the statement after physical search of premises, the assessee was given asked the question whether any other bank accounts are maintained by the assessee or not. In the meantime, assessee was pressurized to accept that they are maintaining the alleged foreign bank account by showing the assessee certain documents having the alleged details. As a result, the assessee was carried away by the Department and relied on the do ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mine and my wife Smt. Indrani S. Sathe. iBAN is CH 1608689050911000460 and CH 8508689050911000479 and client profile code is 5094492065 for my name Subhash Vasant Sathe the and client profile code for my wife Smt. Indrani Sathe is also the same. BUP number 5090153908. Q 43 Do you want to say anything? Ans : Yes, I want to state that the Rs. 56 lacs seized from my premise today may kindly be adjusted against tax liability arising on me for the money deposited in bank accounts abroad. This liability of tax may come around as per my understanding Rs. 1.5 to 2 crores or any other amount or any other tax liability outstanding or arising against me. Thank you It is clear from the statement of Sh. Subhash Vasant Sathe that during the cour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17.07.2013 PB No. 72-73 7. As a matter of fact, in reply to the notice, the Assessing Officer required copy of Income tax Return, Annexure of Return of Income with audit report, computation chart, etc. The assessee filed adjournment application with a pleading that the details and documents are under preparation and the case was adjourned for 3.1.2013, on which date the return of income was filed. Letter dated 20.12.2012 and 03.01.2013 are placed at pages 54 to 68. Accordingly, first notice u/s 142(1) of the Act dated 10.12.2012 has been complied. 8. As regards second notice dated 6.5.2013 which was to be complied on 15.5.2013, has, in fact, been complied on the said dated where the Assessing Officer asked for details of questionnaire, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the impugned A.Y. u/s 152A r.w.s 143(3) of the Act for assessment year 2006-07 to 2011-12 and u/s 143(3) of the Act for assessment year 2012-13 vide order dated 27.02.2015 has been completed where the additions in different years have been made as is evident from the orders placed at pages 171 to 257 of the ld. CIT(A) against the order of assessment u/s 153A/143(3) dated 28.03.2016. Accordingly, in the present circumstances and facts of the case and the order having been passed u/s 153A/143(3) of the Act we set aside the impugned penalty order and direct the Assessing Officer to delete the penalty. Thus, all the grounds raised by the assessee are allowed. 12. In the result, the appeal of the assessee in ITA No. 2767/DE/2016 is allowed. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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