2018 (4) TMI 242

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..... dered as a voluntary disclosure to buy peace and avoid litigation. We are of the considered opinion that the assessee, in the present case, cannot escape the rigours of penalty as it has failed to offer any explanation and has also failed to lead any cogent or reliable evidence. See MAK Data (P) Ltd. vs CIT [2013 (11) TMI 14 - SUPREME COURT]- Decided against assessee.
Shri B.P. Jain, Accountant Member and Shri Sudhanshu Srivastava, Judicial Member Appellant by : None Respondent by : Shri Amit Jain, Sr. DR ORDER PER SUDHANSHU SRIVASTAVA, J.M. This appeal has been preferred by the assessee against the order of the Ld. Commissioner of Income Tax (A)-19, New Delhi wherein, vide order dated 6.3.2014, the Ld. Commissioner of Income Tax (A .....

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..... ment was submitted on behalf of the Ld. AR. A perusal of the order sheet entries shows that the assessee's appeal has been adjourned earlier on 29.06.2017, 3.7.2017 and 17.10.2017 on the request of the assessee and today again, the assessee has sought an adjournment. Thus, it is evident that the assessee is not interested in pursuing the appeal and is adopting dilatory tactics to avoid the hearing for the reasons best known to it. Therefore, looking into the facts, we reject the application for adjournment and proceed to hear the appeal ex parte qua the assessee. 4. The Ld. Sr. DR submitted that the assessee had failed to discharge the onus cast upon it to prove the genuineness of the money received by it. It was also submitted that the as .....

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..... that the Assessing Officer should not be carried away by the plea of the assessee like voluntary disclosure, buy peace, avoid litigation, amicable settlement etc. to explain its conduct. The Hon'ble Apex Court further held that the burden is on the assessee to rebut the presumption of concealment as contained in Explanation 1 to section 271(1)(c) of the Act by cogent and reliable evidence. In the facts of the present case, we are afraid that the assessee has failed to discharge the initial onus cast upon it by cogent or reliable evidence and has simply mentioned that the amount was being surrendered as a voluntary disclosure to buy peace and avoid litigation. We are of the considered opinion that the assessee, in the present case, cannot es .....

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