Question of law in levying the penalty u/s.271(1)(c) of the Income Tax Act, 1961

IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE
(Through Virtual Court)

BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER
AND
SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER

ITA No. 2281/PUN/2017
Assessment Year : 2007-08

Mrs. Villo Noshir Anklesaria
Plot No.10/3, Sr. No.29,
Dhunjibhoy & Sanas Compound,
NIBM Road, Kondhwa,
Pune-411 048.
PAN : AAZPA3341F
Appellant

 V/s.

The Assistant Commissioner of Income Tax,
Circle-4, Pune.
Respondent

Assessee by : None
Revenue by : Shri Vitthal Bhosale

Date of Hearing : 01.06.2021
Date of Pronouncement : 14.06.2021

ORDER

PER PARTHA SARATHI CHAUDHURY, JM:

This appeal preferred by the assessee emanates from the order of the Ld. CIT(Appeals)-7, Pune dated 30.06.2017 for the assessment year 2007-08 as per the following grounds of appeal on record :

“1. The learned Assessing Officer had erred on the facts and in the circumstances of the case and on questions of law in levying the penalty u/s.271(1)(c) of the Income Tax Act, 1961, when there is no bona-fide intention of concealment or furnishing of inaccurate particulars of income.

2. The learned Assessing Officer had erred on the facts and in the circumstances of the case and on questions of law without appreciating the facts that the assessee has co-operated with the department in the whole proceedings of assessment.

3. The learned Assessing Officer had erred on the facts and in the circumstances of the case and on questions of law without appreciating the facts that there were two appeals were pending before the Pune Bench of ITAT u/s.253 of the Income Tax Act, 1961, at the time of proceedings and the proceeding are eligible to stay till the two appeals were disposed off.

4. The appellant craves permission to add, to delete or amend any of the grounds of appeal.”

2. At the time of hearing, none appeared on behalf of the assessee. The submissions of the Ld. DR were recorded and appeal of the assessee was heard on merits.

3. The brief facts in this case are that the assessee is an individual and derived income from house property, profit and gains of business & profession and other sources. The assessee has filed return of income on 31.10.2007 declaring total income of Rs.14,46,578/- and the total income was assessed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as „the Act‟) to Rs.58,98,783/- by the Assessing Officer on 29.12.2009. The Assessing Officer also imposed penalty of Rs.9,37,580/- u/s.271(1)(c) of the Act on 29.03.2012.

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