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TMI Blog2024 (7) TMI 398X X X X Extracts X X X X X X X X Extracts X X X X ..... PUNE] - Thus we delete the penalty imposed u/s 270A - Decided in favour of assessee. - Shri R. K. Panda, Vice President And Shri Vinay Bhamore, Judicial Member For the Assessee : Smt. Abhilasha Sanjay Pawar For the Revenue : Shri Sourabh Nayak ORDER PER VINAY BHAMORE, JM: This appeal filed by the assessee is directed against the order dated 26.01.2024 passed by LD CIT(A)/NFAC for the assessment year 2018-19. 2. The appellant has raised the following grounds of appeal :- 1. The learned CIT is not justified in levying penalty u/s 270A of Rs. 1,61,548/- on the ground that the assesses has under-reporting in consequence of mis-reporting without appreciating that the said levy of penalty was not justified in law. 2. The learned CIT failed to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... excess claims of deduction, the Assessing Officer issued notice u/s 148 of the IT Act calling for the assessee to file the correct return of income. In response to the said notice, the assessee filed the return of income on 30.04.2022 declaring taxable income at Rs. 11,09,050/-. Statutory notices u/s 142(1) and 143(2) of the IT Act were issued served, in response to which the assessee furnished his submission the assessment was completed u/s 147/143(3) of the IT Act on 21.03.2023 determining the total income of the assessee at Rs. 11,14,480/-. Simultaneously penalty proceedings u/s 270A was also initiated because there was difference in assessed income income shown in revised return. Assessee furnished reply to penalty notice but being uns ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Patil also flashed in the daily news paper of Nashik. It was also submitted by the counsel of the assessee that there is no mistake of the assessee but it was the hidden interest of the tax consultant who triggered the gun by using shoulders of the assessee many more for his own benefit. It was further submitted that as soon as the fact of excess deduction claimed, came to the knowledge of the assessee he immediately furnished correct return in response to the notice u/s 148 of the IT Act paid the due tax with interest. It was further submitted by the counsel of the assessee that in the assessment order only penalty u/s 270A was initiated no sub section or clause was mentioned. When the notice dated 21.03.2023 for imposition of penalty was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... c Offence Wing of Nashik Police. Copy of the complaint etc was also furnished before the Assessing Officer. During reassessment proceedings u/s 147/148 of the IT Act the assessee furnished true correct return by claiming appropriate deduction under chapter VI of the IT Act. The return of income was accepted by the Assessing Officer except difference of Rs. 5,430/- which arises due to disallowance of other charges paid to school but claimed as tuition fee. In the assessment order in the table of variations, only Rs. 5,430/- was mentioned as variation in respect of the issue of false deductions claimed by the assessee during the year. However, in the assessment order the penalty u/s 270A was initiated for under reporting of income in conseque ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot substantiated by any evidence; (d) recording of any false entry in the books of account; (e) failure to record any receipt in books of account having a bearing on total income; and (f) failure to report any international transaction or any transaction deemed to be an international transaction or any specified domestic transaction, to which the provisions of Chapter X apply. 10. Therefore, in our considered opinion the decision passed in the case of Shashikant Sukdeo Ambekar in ITA No.365 366/PUN/2023 dated 20-07-2023 by a Co-ordinate Bench of this Tribunal relied on by ld. counsel of the assessee squarely applicable in the instant case also. In this case it was decided as under :- 8. In the case under consideration, the AO has failed to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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