Section 271AAA of the Act are very clear and unambiguous to drive home the point that for the "specified previous year‟ which includes year of search.

Last updated: 23 January 2021

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This Income Tax Appellate Tribunal case (ITA No.753/Mum/2014) concerns a penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961, for the assessment year 2008-09. The assessee, Bharat R. Ruia (HUF), appealed the decision of the Commissioner of Income Tax (Appeals). During the proceedings, the assessee withdrew additional grounds of appeal related to the penalty.

Court :
ITAT Mumbai

Brief :
This appeal in ITA No.753/Mum/2014 for A.Y.2008-09 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-38, in appeal No.CIT(A)-38/IT-170/2011-12 dated 29/11/2013 (ld. CIT(A) in short) in the matter of imposition of penalty u/s.271(1)(c) of the Income Tax Act, 1961.

Citation :
ITA 753/MUM/2014

IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT), ‘B‘ BENCH MUMBAI

BEFORE SHRI M.BALAGANESH, AM
&
SHRI PAVAN KUMAR GADALE, JM

ITA No.753/Mum/2014 (Assessment Year :2008-09)

Bharat R. Ruia (HUF) Prop. B.R. International Phoenix Mills Premises 462, Senapati Bapat Marg Lower Parel, Mumbai – 13
PAN/GIR No.AACHB3596E
(Appellant)

Vs.

Deputy Commissioner of Income Tax, Central Circle 47, Aayakar Bhavan Churchgate, Mumbai
(Respondent)

Assessee by Shri Anuj Kisnadwala
Revenue byShri Oommen Tharian

Date of Hearing 04/01/2021
Date of Pronouncement 13/01/2021

O R D E R

PER M. BALAGANESH (A.M):

This appeal in ITA No.753/Mum/2014 for A.Y.2008-09 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-38, in appeal No.CIT(A)-38/IT-170/2011-12 dated 29/11/2013 (ld. CIT(A) in short) in the matter of imposition of penalty u/s.271(1)(c) of the Income Tax Act, 1961.

2. The ld. AO at the outset stated that additional grounds raised vide ground Nos. 6 & 7 are not pressed. The same is reckoned as a statement made from the Bar and accordingly, the same are hereby dismissed as not pressed.

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