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TMI Blog2025 (3) TMI 1465X X X X Extracts X X X X X X X X Extracts X X X X ..... 355/- Rs. 6,28,546/- Rs. 3,50,906/- and Rs. 1,65,074/-, imposed in proceedings u/s 271(1)(c) of the Income-tax Act, 1961 [hereinafter referred to as "the Act" for short] for Assessment Years 2009-10, 2010-11, 2011-12 & 2014-15 respectively. 2. These are the common appeals and that is why we are taking ITA No. 204/Ahd/2024 as the lead case. The grounds of appeal raised by the assessee in this appeal are as follows: - "1. The learned CIT(A) erred in law and on facts in confirming the penalty of Rs. 3,24,355/- under Section 271(1)(c) of the Income-tax Act, 1961, such penalty is requested to be deleted. 2. Your appellant prays for leave to add, to alter and/or to amend the above ground before the final hearing of the appeal." 3. The asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee preferred appeal before the Hon'ble Gujarat High Court which is at the admission stage as of today. Meanwhile, the Assessing Officer initiated proceedings u/s 271(1)(c) of the Act by issuing notice dated 15.02.2023 u/s. 271(1)(c) of the Act. The assessee filed submissions and after taking cognizance of the same submissions, the Assessing Officer levied penalty of Rs. 3,24,355/- in respect of concealment of income u/s 271(1)(c) of the Act. 6. Being aggrieved by the penalty order, the assessee filed appeal before the CIT(A). The CIT(A) dismissed the appeal of the assessee. 7. The Ld. AR submitted that in the initial assessment order the penalty u/s 271(1)(c) was initiated for furnishing of inaccurate particulars of income and the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of Rs. 5,30,180/- was initiated for 'furnishing of inaccurate particulars of income'. In the assessment order, in paragraph No.6, it has only initiated penalty u/s 271(1)(c) r.w.s. 274 for 'furnishing inaccurate particulars of income'; and when the notice u/s 274 r.w.s. u/s 271(1)(c) has been issued, the same was for 'furnishing of inaccurate particulars' only. Since the assessee has not maintained the books of accounts as mentioned in the order of the assessee in quantum appeal being IT(SS)A Nos. 454 to 457/Ahd/2017, order dated 24.06.2022, the question of concealment of income and furnishing of inaccurate particulars will not come into picture as the assessee has filed return of income u/s 153C of the Act when the notice u/s 153C r.w.s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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