9911796707
TMI Blog2023 (6) TMI 390X X X X Extracts X X X X X X X X Extracts X X X X ..... stimate basis, we are of the view that AO was not justified in leving of penalty u/s 271(1)(c) of the Act. Decided in favour of assessee. - ITA No. 3012/Del/2019 - - - Dated:- 31-5-2023 - Sh. Anil Chaturvedi, Accountant Member And Sh. Chandra Mohan Garg, Judicial Member For the Assessee : Shri Ajit Gandhi, C.A. For the Revenue : Shri Pankaj Khanna, Sr. D.R. ORDER PER ANIL CHATURVEDI, AM : This appeal filed by the assessee is directed against the order dated 29.01.2019 passed by the Commissioner of Income Tax (Appeals) XXV, New Delhi for Assessment Year 2014-15. 2. Brief facts of the case as culled out from the material on record are as under :- 3. Assessee is an individual who filed her return of income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - levied by assessing officer under section 271(1)(c) of Income Tax Act, 1961 without affording proper opportunity of being to appellant. 4. That on the facts and circumstances of the case and in law the Hon'ble Commissioner of Income Tax (Appeals)-25, New Delhi, erred in upholding levying penalty of Rs. 1,71,411/- u/s 271 (1)(c) of Income Tax Act. 1961, levied by assessing officer in absence of any satisfaction drawn that the disallowances forming basis of penalty made at assessment stage are on account of deliberate, malafide intention of the assessee to conceal the particulars or nor furnished inaccurate particulars. 5. That That on the facts and circumstances of the case and in law the Hon'ble Commissioner of Income Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taken by the assessee. The addition was made as income from other sources . He submitted that the addition has been made on estimate basis and it is a settled law that no penalty can be levied on addition made on estimation basis. He also submitted that CIT(A) has passed an ex- parte order and not on merits. He therefore submitted that the penalty levied by AO and upheld by CIT(A) be deleted. 7. Learned DR on the other hand took us through the observations of AO and findings of CIT(A) and pointed to the findings of CIT(A) wherein he has noted that despite various opportunities granted to the assessee, no meaningful representation was made by assessee, In such circumstances, he submitted that CIT(A) has rightly confirmed the penalty lev ..... X X X X Extracts X X X X X X X X Extracts X X X X
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