9911796707
TMI Blog2019 (4) TMI 102X X X X Extracts X X X X X X X X Extracts X X X X ..... eedings the AO comes to a conclusion that this is a case for imposition of penalty as the assessee has either filed inaccurate particulars of income or had concealed the income, penalty proceedings may be initiated again in accordance with law. - Decided in favour of assessee. - I.T.A No.360/Bang/2017 - - - Dated:- 29-3-2019 - Shri. A. K. Garodia, Accountant Member And Shri. Laliet Kumar, Judicial Member For the Assessee : Shri. Sandeep C, CA For the Revenue : Smt / Shri. Kapila H, JCIT ORDER PER LALIET KUMAR, JUDICIAL MEMBER : The present appeal is filed by the assessee, against the order of the CIT (A), Gulbarga, dt.29.12.2016, for the assessment year 2010-11, on the following grounds of appeal : 2. The lea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act and validity of assumption of jurisdiction by the JCIT in passing the impugned orders of assessment have been remanded back to the file of the Assessing Officer for fresh consideration, in our considered view, adjudication on the substantive issue in the appeals at this stage would be premature. If the issue of notice and passing of orders fail to pass the test, in the light of our directions issued above, the impugned orders of assessment, having no legs to stand on, will fail and consequently so too with the disallowances made. We, therefore, refrain from adjudicating on the substantive issue of allowability of the assessee's claim for deduction under Section 80P of the Act. 6.2 It may however be mentioned that the Assessing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of penalty u/s.271(1)(c) of the Act, of ₹ 6,65,805/-, for furnishing inaccurate particulars of income. Since the order by which the quantum was added and the AO came to the conclusion that the assessee had furnished inaccurate particulars of income ceases to exist, on account of being set aside by the Tribunal, the initial cause of levy of penalty does not exist, we have no hesitation to delete the penalty pursuant to order passed by the AO dt.05.02.2014. However it will be open for the AO to initiate the penalty proceedings. In case in the remand proceedings the AO comes to a conclusion that this is a case for imposition of penalty as the assessee has either filed inaccurate particulars of income or had concealed the income, pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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