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TMI Blog2019 (2) TMI 1073X X X X Extracts X X X X X X X X Extracts X X X X ..... MANJUNATHA COTTON AND GINNING FACTORY (2013 (7) TMI 620 - KARNATAKA HIGH COURT) - Decided in favour of assessee. - I.T.A. No.1291/Kol/2018 - - - Dated:- 15-2-2019 - Shri P.M. Jagtap, Vice President And Shri A. T. Varkey, JM For the Assessee : Shri Miraj D. Shah, AR For the Revenue : Shri Radhe Shyam, CIT, DR Shri Shankar Halder, Sr(DR), JCIT ORDER PER P.M. JAGTAP, VICE PRESIDENT This appeal filed by the assessee is directed against the order of Ld. CIT(A) 14, Kolkata dated 04.11.2015 whereby he confirmed the penalty of ₹ 3,24,159/- imposed by the AO u/s 271(1)(c) of the Income tax Act, 1961. 2. The assessee in the present case is an individual who is engaged in the business of trading of hossiery go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the particulars of his income or furnished inaccurate particulars of such income was not clear. In support of this contention, the learned counsel for the assessee has relied on the decision of the coordinate bench of this Tribunal in the case of Jeetmal Choraria vs ACIT rendered vide its order dated 01.12.2017 passed in ITA No. 956/Kol/2016 wherein a similar issue is decided by the Tribunal after taking into consideration, the relevant decision of the different High Courts vide paragraph no. 14 and 15 of its order which read as under: From the aforesaid discussion it can be seen that the line of reasoning of the Hon ble Bombay High Court and the Hon ble Patna High Court is that issuance of notice is an administrative device for infor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The plea of the ld. Counsel for the assessee which is based on the decisions referred to in the earlier part of this order has to be accepted. We, therefore, hold that imposition of penalty in the present case cannot be sustained and the same is directed to be cancelled. 4. In our opinion, the decision rendered by the Coordinate Bench of this Tribunal in the case of Jeetmal Choraria vs ACIT (supra) is squarely applicable in the present case and even the learned DR has not disputed this position. We, therefore, respectfully follow the said decision of the Coordinate Bench of this Tribunal and cancel the penalty imposed by the A.O. under section 271(1)(c) and confirmed by the Ld. CIT(A). 5. In the result, the appeal of the assessee i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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