2019 (5) TMI 105

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..... MEMBER : Assessee is in appeal before the Tribunal against order of the ld.CIT(A)-4, Vadodara dated 5.1.2017 passed for the Asstt.Year 2010-11. 2. Sole grievance of the assessee is that the ld.CIT(A) has erred in confirming penalty of Rs. 1,02,800/- imposed by the AO under section 271(1)(c) of the Income Tax Act. 3. Brief facts of the case are that is an individual. He has filed return of inco .....

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..... rage on purchase of land 39,000/- 9,750/- 29,250/- Earth filling, fencing and security charges for the year 2008- 09 and 2009-10 12,67,472/- 7,43,870/- 5,23,602/- Brokerage on sale 1,50,000/- 37,500/- 1,12,500/- Total     6,65,352/- 4. The ld.AO thereafter initiated penalty proceedings for concealment of income. However, in the show cause notice, issued under se .....

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..... ssee has nowhere admitted that he has furnished inaccurate particulars. What the assessee has admitted is that, in case the expenses are partly disallowed, then he did not dispute. It could not be construed that the assessee has admitted allegations that he has furnished inaccurate particulars. The AO has nowhere brought any material or reasoning for harbouring this plea. The only question is tha .....

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