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TMI Blog2020 (10) TMI 274X X X X Extracts X X X X X X X X Extracts X X X X ..... e entire penalty proceedings are, therefore, vitiated and no penalty is leviable. We are fortified in our view by the Judgment in the case of Commissioner of Income Tax vs., SSA s Emerald Meadows [ 2015 (11) TMI 1620 - KARNATAKA HIGH COURT] which is confirmed by the Hon ble Supreme Court [ 2016 (8) TMI 1145 - SC ORDER]. - Decided in favour of assessee. - ITA.No.4233/Del./2019 - - - Dated:- 16-6-2020 - Shri Bhavnesh Saini, Judicial Member And Shri Anil Chaturvedi, Accountant Member For the Assessee : Shri Suresh K. Gupta, C.A. For the Revenue : Shri R.K. Gupta, Sr. D.R. ORDER PER BHAVNESH SAINI, J.M. This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-20, New Delhi, Dated 15.03.2019, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ear from the assessment order as well as from the notice whether penalty have been initiated / levied for furnishing inaccurate particulars of income or concealment of particulars of income. Therefore, penalty cannot be levied against the assessee. He has relied upon Order of ITAT, Delhi A-Bench, Delhi in the case of Shri Lakshya Seth, Delhi vs., ITO, Ward-19(3), New Delhi in ITA.No.852/Del./2016, Dated 16.05.2018 as well as Judgment of Hon ble Delhi High Court in the case of Pr. Commissioner of Income Tax vs., Sahara India Live Insurance Corporation Ltd., Dated 02.08.2019 in ITA.No.475/2019 etc., batch, in which, in paras 21 and 22 the Hon ble Delhi High Court held as under : 21. The Respondent had challenged the upholding of the pena ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 271(1)(c) of the I.T. Act penalty proceedings have been initiated i.e., whether for concealment of particulars of income or furnishing inaccurate particulars of income. The entire penalty proceedings are, therefore, vitiated and no penalty is leviable. We are fortified in our view by the Judgment of the Hon ble Karnataka High Court in the case of Commissioner of Income Tax vs., SSA s Emerald Meadows (2016) 73 taxmann.com 241 (Kar.) which is confirmed by the Hon ble Supreme Court reported in 73 taxmann.com 248 (SC). The issue is also now decided by the Hon ble Delhi High Court in favour of the case in the case of Pr. Commissioner of Income Tax vs., Sahara India Live Insurance Corporation Ltd., Dated 02.08.2019 (supra). Further the A.O. in th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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