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04-06-2019, Deepak S. Hiremath, Section 271(1)(c), 132, 153A, Tribunal Bangalore

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3 months 1 week ago #9671 by amit
Section - 271(1)(c), 132, 153A
Order Date - 04-06-2019
Favouring - Assessee
Court - Tribunal Bangalore
Appellant - Deepak S. Hiremath
Respondent - ACIT
Justice - N. V. VASUDEVAN VP & JASON P BOAZ AM
Citation - 619Taxpundit87
Appeal No. - ITA Nos.1268 to1272/Bang/2018
Asstt. Year - 2008-09 to 2012-13

Order

PER : Jason P. Boaz, A.M

These appeals by the assessee are directed against the separate orders of CIT(A), Hubballi, dated 22.08.2018, relating to Assessment Years 2008-09 to 2012-13. In these appeals, the assessee has challenged the orders of the CIT(A); whereby the CIT(A) confirmed the orders of the Assessing Officer (AO) imposing penalty on the assessee under section 271(1)(c) of the Income Tax Act, 1961 (in short ‘the Act’) for the aforesaid Assessment Years.

2. Briefly stated, the facts relevant for disposal of these appeals are as under:-

2.1 For Assessment Year 2008-09, the assessee had filed a return of income on 30.09.2008 declaring income of Rs.1,73,000/-. Pursuant to search action under section 132 of the Act conducted at the assessee’s premises on 01.05.2013 notice under section 153A of the Act was issued on 18.10.2013 in response to which the assessee filed a return of income on 30.11.2013 declaring income of Rs.11,65,180/-; which included an amount of Rs.9,91,675/- on account of undisclosed income admittedly earned from money lending. The assessment was concluded under section 143(3) r.w.s 153A of the Act vide order dated 29.02.2016, wherein the assessee’s returned income of Rs.11,65,180/- was accepted. Penalty proceedings under section 271(1)(c) of the Act were initiated simultaneously vide issue of notice dated 29.02.2016 The AO passed an order dated 23.08.2016 levying penalty of Rs.3,41,737/- under section 271(1)(c) of the Act for concealment of particulars of income. The CIT(A), Hubli, vide the impugned order dated 22.02.2018, upheld the order of the AO levying penalty of Rs.3,41,737/- under section 271(1)(c) of the Act.

2.2 For Assessment Year 2009-10, the assessee filed his return of income on 29.09.2009 declaring income of Rs.4,18,080/-. Pursuant to the iussue of notice issued under section 153A of the Act dated 18.10.2013; consequent to the search action conducted on 01.05.2013, in the case on hand, the assessee filed a return of income on 30.11.2013 declaring income of Rs.41,31,460/-; which included undisclosed income of Rs.37,13,373/- admittedly earned from money lending.

The assessment was concluded under section 143(3) r.w.s. 153A of the Act vide order dated 29.02.2016 wherein the income returned by the assessee was accepted. Penalty proceedings was simultaneously initiated by issue of notice under section 271(1)(c) of the Act dated 29.02.2016, and the proceedings resulted in the AO levying penalty of Rs.12,66,731/- under section 271(1)(c) of the Act vide order dated 23.08.2016 for concealment of particulars of income. On appeal by the assessee, the CIT(A), Hubballi, vide the impugned order dated 22.02.2018, upheld the levy of penalty under section 271(1)(c) of the Act, by the AO.

2.3 For Assessment Year 2010-11, the assessee filed his return of income on 30.09.2010 declaring income of Rs.2,31,700/-. Pursuant to search action conducted in the case on hand on 01.05.2013, notice under section 153A of the Act dated 18.10.2013 was issued to the assessee. In response thereto, the assessee filed a return of income on 30.11.2013 declaring income of Rs.27,20,640/-, which included undisclosed income of Rs.24,88,942/- admittedly earned from money lending. The assessment was concluded under section 143(3) r.w.s. 153A of the Act vide order dated 29.02.2016, wherein the income returned by assessee was accepted. Penalty proceedings were simultaneously initiated by issue of notice under section 271(1)(c) of the Act dated 29.02.2016 and the proceedings resulted in the AO levying penalty of Rs.7,59,391/- under section 271(1)(c) of the Act vide order dated 23.08.2016 for concealment of particulars of income. On appeal by the assessee, the CIT(A), Hubballi, vide order dated 22.02.2018, upheld the levy of penalty under section 271(1)(c) of the Act by AO.

2.4 For Assessment Year 2011-12, the assessee filed his return of income on 29.09.2011 declaring income of Rs.2,31,550/-. Pursuant to search action conducted in the case on hand on 01.05.2013, notice under section 153A of the Act dated 18.10.2013 was issued to the assessee. In response thereto, the assessee filed a return of income on 30.11.2013 declaring income of Rs.14,35,600/-; which included undisclosed income of Rs.12,04,140/- admittedly earned from money lending. The assessment was concluded under section 143(3) r.w.s. 153A of the Act vide order dated 29.02.2016, wherein the income returned by the assessee was accepted. Penalty proceedings were simultaneously initiated by issue of notice under section 271(1)(c) of the Act dated 29.02.2016 and the proceedings resulted in the AO levying penalty of

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