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TMI Blog2019 (5) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... ued 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 that, out of total expenditure claimed by the assessee, partly not accepted by the AO. His explanation qua the expenditure was not found to be false. The assessee could not substantiate his claim of expendit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dodara 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 ₹ 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 income on 25.3.2011 declaring total income at ₹ 2,8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the AO (Rs.) Amount of addition made by the AO (Rs.) Brokerage on purchase of land 39,000/- 9,750/- 29,250/- Earth filling, fencing and security charges for the year 2008- 09 and 2009-10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he penalty order available on page no.14 of the paper book, the ld.AO observed that penalty was initiated for concealment of income, but is being imposed for furnishing inaccurate particulars. Appeal to the CIT(A) did not bring any relief to the assessee. 5. With the assistance of the ld.representatives, we have gone through the record carefully. A perusal of penalty order would i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubstantiate his claim of expenditure with help of evidence. In these circumstances penalty upon the assessee cannot be imposed with help of Explanation 1 to section 271(1)(c) of the Act. If the AO was able to demonstrate that the explanation of the expenditure given by the assessee was false, then his case can be appreciated. Taking into consideration all these facts and circumstances, we are of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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