9911796707
TMI Blog2023 (8) TMI 442X X X X Extracts X X X X X X X X Extracts X X X X ..... ect the AO to delete the impugned penalty. Grounds raised by the assessee are thus, allowed. - Shri Kul Bharat, Judicial Member For the Appellant : Shri Sandeep Kumar, CA For the Respondent : Shri Om Parkash, Sr.DR ORDER PER KUL BHARAT, JM : The present appeal filed by the assessee is directed against the order passed by Ld.CIT(A), National Faceless Appeal Centre ( NFAC ) dated 22.03.2023 for the assessment year 2012-13. 2. The assessee has raised following grounds of appeal:- 1. The Lower Authorities have grossly erred in Law and on facts of the case while imposing / confirming penalty of Rs. 112220 u/s 271(1)(c) of Income Tax Act, therefore the Penalty order and also Appellate order are bad in Law, ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submitted that the imposition of penalty u/s 271(1)(c) is illegal and arbitrary. The assessment was made at the back of the assessee thereby, the assessing authority made addition of INR 6,79,840/- and initiated penalty proceedings u/s 271(1)(c) of the Act. He contended that the assessee was the wife of a Senior Officer in Air Force and the assessment was framed ex-parte to her. It was contended that there is no tax liability as the tax deducted is higher than the tax due. As per the assessee, the total tax was due at INR 60,968/-. On this amount, the deduction of tax was INR 89,660/- thus, excessive of the tax due. Ld. Counsel for the assessee relied on the explanation on the provision of section 271(1)(c) of the Act. To buttress the conte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing officer by serving a notice calling upon the assessee to show cause, on a date and time to be specified in the notice, why the assessment should not be completed to the best of his judgment: Provided further that it shall not be necessary to give such opportunity in a case where a notice under sub-section (1) of section 142 has been issued prior to the making of an assessment under this section.] Keeping in view of the facts and circumstances of the case, assessment in this case is completed u/s 144 of the IT Act on the basis of material on record. As per Individual Transaction Statement (ITS), the assessee has earned Interest income of Rs. 13,17,296/- from various Banks during the F.Y. 2011-12 relevant to the A.Y. 2012-1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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