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TMI Blog2016 (2) TMI 1215X X X X Extracts X X X X X X X X Extracts X X X X ..... RT) - Also see SHRI HAFEEZ S CONTRACTOR VERSUS ASSTT. COMMISSIONER OF INCOME TAX –CENTRAL CIRCLE-44, MUMBAI [2015 (9) TMI 1169 - ITAT MUMBAI] - Decided in favour of assessee. - ITA No. 2284/Del/2015 - - - Dated:- 15-2-2016 - SHRI H.S.SIDHU, JUDICIAL MEMBER AND SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER For the Appellant : Sh. C.S.Anand, Adv. For the Respondent : Sh. K.K.Jaiswal, D.R. ORDER PER J. SUDHAKAR REDDY, ACCOUNTANT MEMBER This is an appeal filed by the Assessee directed against the order of the Ld.Commissioner of Income Tax (Appeals)-13, New Delhi dt. 4.3.2015 pertaining to the Assessment Year (A.Y.) 2011-12, wherein penalty levied u/s 271(1)(c) of the Income Tax Act, 1961 (the Act) is confirmed. 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xistence of such conditions should be discernible from the Assessment Order or order of the Appellate Authority or Revisional Authority. (f) Even if there is no specific finding regarding the existence of the conditions mentioned in Section 271(1)(c), at least the facts set out in Explanation l1(A) and (B) it should be discernible from the said order which would by a legal fiction constitute concealment because of deeming provision. (g) Even if these conditions do not exist in the assessment order passed, at least, a direction to initiate proceedings under Section 271(1)(c) is a sine qua non for the Assessment Officer to initiate the proceedings because of the deeming provision contained in Section 1 (B). (h) The said deem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issued any direction to initiate penalty proceedings, in appeal, if the appellate authority records satisfaction, then the penalty proceedings have to be initiated by the appellate authority and not the Assessing Authority. (p) Notice under Section 274 of the Act should specifically state the grounds mentioned in Section 271(1)(c), i.e., whether it is for concealment of income or for furnishing of incorrect particulars of income (q) Sending printed form where all the ground mentioned in Section 271 are mentioned would not satisfy requirement of law. (r) The assessee should know the grounds which he has to meet specifically. Otherwise, principles of natural justice is offended. On the basis of such proceedings, no penalty c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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