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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.

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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.

To know more in details find the attachment file
 

 

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on 23 January 2021
Published in Income Tax
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