9911796707
TMI Blog2019 (3) TMI 736X X X X Extracts X X X X X X X X Extracts X X X X ..... r of the coordinate bench in case of the assessee for earlier years on the quantum proceedings as well as on the penalty proceedings [2015 (10) TMI 2239 - ITAT DELHI]& [2013 (12) TMI 297 - ITAT DELHI], we are of the opinion that on the above disallowance penalty cannot be levied as there are conceivably 2 opinions on the same set of facts. CIT appeal has deleted the penalty primarily on this reason. On reading the penalty order itself it is found that the AO is not sure whether the penalty is levied for concealment of income or furnishing of the inaccurate particulars of income. Therefore, on this ground also the penalty is not sustainable. Accordingly we confirm the order of the learned CIT – A deleting the penalty on account of payment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mounting to ₹ 1,98,92,600/- is allowable as expenditure for the year and the balance of ₹ 7,95,70,400/- was disallowed. The ld AO initiated the penalty proceedings u/s 271(1) of the Act for furnishing inaccurate particulars of its income. Consequently, the assessment u/s 143(3) of the Act was passed on 27.11.2009. The assessee contested the above addition before the ld CIT(A), XV, New Delhi who passed the order dated 10.04.2012 who deleted the above disallowance of 4th of expenditure claimed under voluntary separation scheme. The revenue contested the same before the coordinate bench. The coordinate bench passed order on 11/1/2013 confirming the above disallowance. Consequent to that, the learned assessing officer passed the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome of such person as a result thereof is deemed to be representing the income in respect of which particulars have been concealed. He further stated that it is crystal clear that the assessee has indeed furnished inaccurate particulars of income which lead to the concealment of income. Accordingly he levied the penalty of INR 2 6983337/ being the hundred percent of tax sought to be evaded. The order was passed on 26/11/2013. The assessee aggrieved with the above order preferred an appeal before the learned CIT A. The assessee submitted that on identical issue in assessment year 2004 05 the learned Commissioner of income tax appeal held that it is not a fit case for levy of the penalty. The learned CIT A noted that coordinate b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... learned assessing officer. She further submitted that merely because the learned CIT A has allowed the claim of the assessee which has been reversed by the coordinate bench it does not amount to having a 2 opinions on the same set of facts. 5. The learned authorised representative vehemently supported the order of the learned CIT A and submitted that on the identical facts and circumstances of the case for assessment year 2004 05 on identical facts and circumstances the penalty has been deleted. He referred to the para number 6 of the order of the coordinate bench dated 22/9/2015 wherein the addition itself has been deleted and in para number 7 the penalty is also deleted. He further submitted a detailed chart of the status of vol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the complete facts, order of the coordinate bench in case of the assessee for earlier years on the quantum proceedings as well as on the penalty proceedings, we are of the opinion that on the above disallowance penalty cannot be levied as there are conceivably 2 opinions on the same set of facts. The learned CIT appeal has deleted the penalty primarily on this reason. Further, on reading the penalty order itself it is found that the learned assessing officer is not sure whether the penalty is levied for concealment of income or furnishing of the inaccurate particulars of income. Therefore, on this ground also the penalty is not sustainable. Accordingly we confirm the order of the learned CIT A deleting the penalty of INR 2 4513669/ on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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