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TMI Blog2019 (2) TMI 1597X X X X Extracts X X X X X X X X Extracts X X X X ..... LECHA, JJ. Ms. Alisha Pinto i/by Mihir Naniwadekar for the Appellant Mr. Sham Walve for Respondent No. 1 P.C.: 1. These appeals arise in similar background. They have been heard together and would be disposed of by this common order. 2. Since reference was made to the documents in Income Tax Appeal No. 1469 of 2016, same will be treated as lead matter. This appeal is filed by the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... return of income in which additional income was disclosed but it was stated that such additional income was disclosed to buy peace and on the condition that no penalty proceedings would be initiated. The Assessing Officer framed assessment pursuant to assessee's return under Section 153A of the Act and made the suitable additions. He also instituted penalty proceedings and imposed penalty under S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er of the Commissioner upon which the assessee has filed this appeal. 5. Having heard the learned counsel for the parties, we do not find any error in the view of the Tribunal. The order of the assessment under Section 153A of the Act has become final. The assessee has not questioned the additions further. It is true that the penalty proceedings are independent of the assessment proceedings. Nev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nstituted. Both grounds not found favour with the Supreme Court in case of MAK DATA P Ltd Vs. CIT (2013) 358 ITR 593 (SC). We also notice that the assessee has not built up any case for arguing that the receipt in question was not in the nature of income. Merely by stating so and relying on the judgment of this Court in the case of CIT, Nagpur Vs. Karda Constructions Pvt Ltd. Income Tax Appeal (L) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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