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TMI Blog2022 (11) TMI 224X X X X Extracts X X X X X X X X Extracts X X X X ..... ply with the requirements of the law. CIT-A noted that ld. AO has levied penalties on the final amounts only which remained as confirmed/sustained in the hands of the assessee and not on the initial additions which were made in the assessment. Accordingly, the penalty so imposed is on all those amounts for which either the Co-ordinate Bench of ITAT in the assessment has confirmed the additions or the assessee himself has not preferred any appeal against the order of ld. CIT(A) in respect of the additions. Fact based findings given by the ld. CIT(A) after analyzing the submission filed by the assessee, more particularly where the assessee himself has not preferred any appeal against the order of ld. CIT(A) on certain additions which were con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... governed by Portuguese Civil Code and assessed at 50:50 by virtue of section 5A of the Act. Assessee is in the business of hotels, real estates and constructions having eight proprietary concerns for which he maintains separate profit and loss accounts and balance sheets. Return was filed by the assessee on 13.10.2001 reporting a total income of Rs. 2,80,800/-. In the course of assessment u/s. 143(3) of the Act, owing to complexity involved in the accounts maintained by the assessee, the case was referred for special audit u/s. 142(2A) of the Act based on which assessment was completed at total communion income of Rs. 1,36,79,351/-. The same was apportioned equally among the spouses u/s. 5A at Rs. 65,58,875/- each. Penalty proceeding u/s. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o. 9 for Rs. 4,120/-, at serial no. 10 for Rs. 7,260/- and at serial no. 11 for Rs. 14,475/-, no further appeal has been filed by the assessee against the order of ld. CIT(A) on the respective items. For these four items also, the amount of addition are very small amounts which were sustained after the appellate proceedings. 8.2. Further, we note that the ld. CIT(A) has objectively dealt with the contentions of the assessee in respect of issue of complexity of accounts raised by the assessee to substantiate his claim that mistakes were committed by him in maintaining correct accounts. On this aspect, the ld. CIT(A) has noted that assessee was assisted by statutory auditor, authorized representative and accountants and thus he had all the r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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