2019 (6) TMI 789

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..... in accordance with law and as per the directions given by the ITAT in above mentioned order. - Appeal of the Assessee is allowed for statistical purposes.
Shri. N.K.Saini, VP And Shri, Sanjay Garg, JM For the Assessee : Shri. N.K. Saini, ITR For the Revenue : Sh. Mudit Srivastava, Sr. DR ORDER PER N.K. SAINI, VICE PRESIDENT This is an appeal by the Assessee against the order dt. 10/04/2018 of Ld. CIT(A)-, Patiala. 2. In the present appeal Assessee has raised the following grounds: 1. The learned CIT(A) has erred in facts and law in confirming the penalty under section 271(1)(c) levied by the AO at ₹ 69,72,671/- without considering his replies in proper manner. 2. The learned CIT(A) has erred in confirming the levy of pen .....

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..... d C1T(A) has confirmed the levying of penalty without affording adequate opportunity of being heard. The order is liable to be set aside. 7. In any case the learned assessing officer has erred in levying the penalty under section 271(1)(c ) at 300% of the tax sought to be evaded without bringing on record any special or extraordinary circumstances for levying maximum penalty. 8. The appellant craves leave for any addition, deletion or amendment in the grounds of appeal on or before disposal of appeal. 3. The facts of the case in brief are that this case was earlier decided by the ITAT in ITA No. 58/Chd/2017 vide order dt. 18/11/2016, and the matter was restored to the Ld. CIT(A) by observing that the finding in quantum proceedings woul .....

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..... lant. Finally after service of notice by affixture, the AR appeared on behalf of the appellant. Qua these alternate submissions, the appellant has produced copies of three separate bank accounts, a loan account with Bank of Baroda relating to M/s Sai Cold Storage Pvt. Ltd., a current account relating to M/s Sai Cold Storage Pvt. Ltd with Oriental Bank of Commerce and a Savings Bank account of Shri Ashwani Kumar himself in Oriental Bank of commerce (the impugned account where the deposits of ₹ 65,00,000/- were made. The appellant has stated that the during appellate proceedings before my predecessor, it was noticed by the AR) that the deposits in banks explainable from the inter-se withdrawals from the bank accounts maintained by the a .....

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