SHRI PREM JASANDA BHATIA, KOTA V. DCIT, CENTRAL CIRCLE, KOTA

ITA 200/JPR/2020

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 6943 (ITAT-JAIPUR)
• Duration Of Justice: 6 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-09-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2013-2014
• Appeal Filed On: 19-02-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RUNI PAUL DCIT DR DHK
• Keywords: Salary income; Bonafide mistake
• Section: 271(1)(c); 153A; 143(2); 139

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,B JAIPUR JH JESK LH-'KEKZ] YS[KK LNL; ,O LAANHI XKSLKBZ] U;KF;D LNL; DS LE{K BEFORE: SHRI RAMESH C SHARMA, AM & SHRI SANDEEP GOS AIN, JM VK;DJ VIHY LA-@ ITA NO.200/JP/2020 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2013-14 SHRI PREM JASHANDAS BHATIA 255, SHOPPING CENTRE KOTA CUKE VS. THE DCIT CENTRAL CIRCLE KOTA LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO.: ACGPB 3555 R VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI P.C. PARWAL, CA JKTLO DH VKSJ LS@ REVENUE BY: SMT. RUNI PAUL , DCIT DR LQUOKBZ DH RKJH[K@ DATE OF HEARING : 25/08/2020 MN?KKS'K.KK DH RKJH[K@ DATE OF PRONOUNCEMENT: 01 /09/2020 VKNS'K@ ORDER PER SANDEEP GOSAIN, J.M. THE PRESENT APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF LD.CIT (A), KOTA DATED 19.08.2019 FOR THE ASSES SMENT YEAR 2013-14 PASSED UNDER SECTION 271(1)(C) OF THE INCOME TAX A CT, 1961 ON THE GROUNDS MENTIONED HEREINBELOW. 1. UNDER THE FACTS AND CIRCUMSTANCES OF THE CASE, THE PENALTY ORDER PASSED BY INVOKING EXPLANATION 5A TO SECTION 271(1)( C) IS ILLEGAL AND BAD IN LAW. ITA NO. 200/JP/2020 SHRI PREM JASHANDAS BHATIA VS DCIT, CENTRAL CIRCLE, KOTA 2 2. THE LD. CIT(A) HAS ERRED ON FACTS AND IN LAW IN CONFIRMING THE LEVY OF PENALTY OF RS. 6,18,983/-U/S 271(1)(C) OF THE I.T. ACT, 1961 ON THE ALLEGED UNDISCLOSED SH ORT TERM CAPITAL GAIN (STCG)OF RS. 20,03,183/- BY NOT ACCEPT ING THE EXPLANATION OF ASSESSEE THAT SUCH STCG WAS LEFT TO BE INCLUDED IN THE INCOME DUE TO OVERSIGHT. 2.1 BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE F ILED HIS RETURN OF INCOME U/S 139 OF THE ACT ON 20-12-2013 DECLARING T OTAL INCOME OF RS. 48,76,360/-. THEREAFTER A SEARCH TOOK PLACE ON SHUBHAM GROUP ON 03-03-2016 OF WHICH ASSESSEE IS A PART. IN RESPONSE TO NOTICE U/S 153A OF THE ACT, AGAIN A RETURN WAS FILED ON 27-09-2016 DEC LARING THE SAME INCOME OF RS. 48,76,360/-. HOWEVER, DURING THE COUR SE OF ASSESSMENT PROCEEDING U/S 153A OF THE ACT, THE ASSESSEE FILED THE REVISED COMPUTATION DECLARING TOTAL INCOME OF RS. 68,79,540 /- BY INCLUDING THE SHORT TERM CAPITAL GAIN OF RS. 20,08,183/- ON SALE OF IMMOVABLE PROPERTY. THE AO FRAMED THE ASSESSMENT ON 20-12-2017 BY INCLU DING THE SAID SHORT TERM CAPITAL GAIN AS UNDISCLOSED INCOME. ON SUCH AM OUNT, PENALTY U/S 271(1(C ) OF THE ACT WAS INITIATED FOR CONCEALMENT OF INCOME AND CONSEQUENTLY AFTER PROVIDING OPPORTUNITY OF HEARING , THE PENALTY WAS IMPOSED BY REFERRING TO EXPLANATION 5A TO SECTION 2 71(1)( C) OF THE ACT OF RS. 6,18,983/- BY THE AO VIDE HIS ORDER DATED 18 -06-2018. ITA NO. 200/JP/2020 SHRI PREM JASHANDAS BHATIA VS DCIT, CENTRAL CIRCLE, KOTA 3 2.2 AGGRIEVED BY THE ORDER OF THE AO REGARDING IMP OSITION OF PENALTY, THE ASSESSEE PREFERRED AN APPEAL BEFORE THE LD. CIT (A) WHO AFTER CONSIDERING THE CASE OF BOTH THE PARTIES DISMISSED THE APPEAL FILED BY THE ASSESSEE. 2.3 NOW AGGRIEVED BY THE ORDER OF THE LD. CIT(A), T HE ASSESSEE HAS PREFERRED AN APPEAL BEFORE US ON THE GROUND MENTION ED HEREINABOVE. 2.4 THE GROUND NO. 1 AND 2 OF THE ASSESSEE ARE INTE R-RELATED AND INTER- CONNECTED AND RELATES TO CHALLENGING THE ORDER OF T HE LD. CIT(A) IN CONFIRMING THE IMPOSITION OF PENALTY U/S 271(1)( C) OF THE ACT. THEREFORE, WE THOUGHT IT FIT TO DISPOSE OFF BOTH THE GROUNDS T HROUGH A CONSOLIDATED ORDER. 2.5 THE LD.AR APPEARING ON BEHALF OF THE ASSESSEE R EITERATED THE SAME ARGUMENTS AS WERE RAISED BY HIM BEFORE THE LD. CIT( A). HOWEVER, THE LD.AR OF THE ASSESSEE FILED THE WRITTEN SUBMISSION IN ORDER TO SUPPORT OF HIS ARGUMENTS AND THE SAME IS REPRODUCED BELOW. FACTS: - 1.THE ASSESSEE DERIVES INCOME FROM SALAR Y AND INCOME FROM OTHER SOURCES, I.E. INTEREST INCOME. HE IS NOT REQU IRED TO MAINTAIN BOOKS OF ACCOUNTS. RETURN WAS FILED BY HIM U/S 139 ON 20. 12.2013 DECLARING INCOME OF RS.48,76,360/-. THEREAFTER A SEARCH TOOK PLACE ON SHUBHAM GROUP ON 03.03.2016 OF WHICH ASSESSEE IS A PART. IN RESPONSE TO NOTICE U/S 153A AGAIN A RETURN WAS FILED ON 27.09.2016 DEC LARING THE SAME INCOME OF RS.48,76,360/-. 2. IN COURSE OF ASSESSMENT PROCEEDINGS U/S 153A, AS SESSEE WHILE PREPARING THE STATEMENT OF AFFAIRS NOTICED THAT THE RE IS A SHORT TERM CAPITAL GAIN OF RS.20,03,183/- ON SALE OF AN IMMOVA BLE PROPERTY WHICH ITA NO. 200/JP/2020 SHRI PREM JASHANDAS BHATIA VS DCIT, CENTRAL CIRCLE, KOTA 4 HAS BEEN LEFT TO BE INCLUDED IN INCOME BY OVERSIGHT . ACCORDINGLY, HE FILED THE REVISED COMPUTATION DECLARING TOTAL INCOM E OF RS.68,79,540/- INCLUDING THE SAID CAPITAL GAIN AFTER PAYMENT OF TA X THEREON ON 04.11.2017. AO FRAMED THE ASSESSMENT ON 20.12.2017 BY INCLUDING THE SAID SHORT TERM CAPITAL GAIN AS UNDISCLOSED INCOME. ON SUCH AMOUNT PENALTY U/S 271(1)(C) IS INITIATED FOR CONCEALMENT OF INCOME. 3. ON THE SAID AMOUNT AO IMPOSED THE PENALTY BY REF ERRING TO EXPLANATION 5 TO SECTION 271(1)(C) AT RS.6,18,983/- . 4. THE LD. CIT(A) CONFIRMED THE LEVY OF PENALTY. SUBMISSION:- 1. FROM THE FACTS STATED ABOVE IT CAN BE NOTED THAT ON LY DISPUTE IN THE PRESENT CASE IS LEVY OF PENALTY ON THE ALLEGED UNDISCLOSED SHORT TERM CAPITAL GAIN OF RS.20,03,183/- ON SALE OF IMMOVABLE PROPERTY. IT IS SUBMITTED THAT ASSESSEE FILED THE ORIGINAL RETURN O F INCOME ON 20.12.2013. THE TIME LIMIT FOR SERVICE OF NOTICE U/S 143(2) WAS UPTO 30.09.2014. NO NOTICE WAS ISSUED TO THE ASSESSEE BEFORE THIS DATE. THUS, THE ASSESSMENT PROCEEDINGS FOR THE YEAR UNDER CONSIDERATION WERE N OT PENDING ON THE DATE OF SEARCH. IN SEARCH NO INCRIMINATING MATERIAL INDI CATING ANY UNDISCLOSED INCOME FOR THE YEAR UNDER CONSIDERATION WAS FOUND. THE COMPLETED ASSESSMENT CAN BE INTERFERED WITH BY THE AO WHILE M AKING ASSESSMENT U/S 153A ONLY ON THE BASIS OF THE INCRIMINATING DOCUMEN TS FOUND IN SEARCH. THUS, WHEN NO INCRIMINATING DOCUMENTS FOR THE YEAR UNDER CONSIDERATION WERE FOUND, ADDITION MADE BY THE AO IN ASSESSMENT P ROCEEDINGS U/S 153A IS ILLEGAL AND BAD IN LAW. 2. IT IS FURTHER SUBMITTED THAT DURING THE COURSE O F ASSESSMENT PROCEEDINGS U/S 153A WHEN THE ASSESSEE PREPARED HIS STATEMENT OF AFFAIRS IT CAME TO HIS NOTICE THAT SHORT TERM CAPITAL GAIN OF RS.20,03,183/- WAS LEFT TO BE INCLUDED IN THE INCOME BY MISTAKE. ACCORDINGL Y, HE FILED REVISED COMPUTATION OF TOTAL INCOME AND OFFERED THE SAME FO R TAXATION. THUS, THE OMISSION OF SHORT TERM CAPITAL GAIN DECLARED IN THE ROI FILED U/S 153A IS A BONAFIDE MISTAKE. ON SUCH BONAFIDE MISTAKE NO PENAL TY IS LEVIABLE. FOR THIS RELIANCE IS PLACED ON THE DECISION OF HONBLE SUPREME COURT IN CASE OF PRICE WATERHOUSE COOPERS (P.) LTD. VS. CIT (2012 ) 348 ITR 306. IN THIS CASE THE ASSESSEE FIRM FILED ITS RETURN OF INC OME ALONG WITH TAX AUDIT REPORT. IN ITS TAX AUDIT REPORT IT WAS INDICATED TH AT PROVISION TOWARDS PAYMENT OF GRATUITY WAS NOT ALLOWABLE BUT IT FAILED TO ADD PROVISION FOR GRATUITY TO ITS TOTAL INCOME. IT WAS HELD THAT IT W AS A BONA FIDE AND INADVERTENT ERROR. THE SAME CAN ONLY BE DESCRIBED A S A HUMAN ERROR WHICH ITA NO. 200/JP/2020 SHRI PREM JASHANDAS BHATIA VS DCIT, CENTRAL CIRCLE, KOTA 5 WE ALL ARE PRONE TO MAKE. THE ASSESSEE COULD NOT BE HELD GUILTY OF EITHER FURNISHING INACCURATE PARTICULARS OR ATTEMPTING TO CONCEAL ITS INCOME. THEREFORE, IMPOSITION OF PENALTY WAS UNJUSTIFIED. 3. IT IS SUBMITTED THAT THIS ISSUE IS COVERED IN FA VOUR OF ASSESSEE BY THE DECISION OF HONBLE ITAT IN CASE OF SH. YASH BH ATIA IN ITA NO.1142/JP/19 DT. 09.01.2020 WHERE AFTER REPRODUCIN G EXPLANATION 5A TO SECTION 271(1)(C) IN PARA 8, A FINDING IS GIVEN IN PARA 9 THAT UNLESS THE INCOME ADDED HAS ANY CORRELATION WITH THE DOCUMENT/ MATERIAL/ INFORMATION FOUND DURING SEARCH, NO PENALTY CAN BE LEVIED UNDER THIS EXPLANATION. PARA 9 OF THE ORDER IS REPRODUCED AS U NDER:- 9. IT IS A SETTLED LEGAL PROPOSITION THAT PENAL PR OVISIONS MUST BE STRICTLY CONSTRUED AND ONLY ON SATISFACTION OF C ONDITIONS SPECIFIED THEREIN, THE PENALTY CAN BE LEVIED. IN THE INSTANT CASE, THE ASSESSEE HAS NOT BEEN FOUND TO BE RECIPIENT OF SALARY INCOME DUR ING THE COURSE OF SEARCH. THE ASSESSEE IS AN INDIVIDUAL DERIVING SALA RY AND INTEREST INCOME AND NOT REQUIRED TO MAINTAIN BOOKS OF ACCOUN TS. THERE IS NOTHING ON RECORD THAT ANY DOCUMENTS/MATERIAL/INFOR MATION WAS FOUND DURING THE COURSE OF SEARCH WHICH REMOTELY INDICATE THAT THE ASSESSEE IS RECIPIENT OF SALARY INCOME. IT IS ONLY DURING TH E COURSE OF PROCEEDINGS U/S 153A THAT THE ASSESSING OFFICER NOT ICED THAT THE ASSESSEE IS IN RECEIPT OF SALARY INCOME AND WHICH H AS NOT BEEN DISCLOSED BY THE ASSESSEE IN HIS RETURN AND THE SAM E WAS ACCORDINGLY BROUGHT TO TAX. THE DISPUTE IS NOT THAT THE SALARY INCOME WAS NOT OFFERED TO TAX BY ASSESSEE IN HIS RETURN OF INCOME WHICH IS AN ADMITTED POSITION BUT THE QUESTION IS WHETHER SUCH SALARY IN COME HAS BEEN FOUND DURING THE COURSE OF SEARCH AND THE ANSWER TO THAT IN NOT IN AFFIRMATIVE. IN THE PRESENT CASE, WE THEREFORE FIND THAT NONE OF THE CONDITIONS SPECIFIED IN EXPLANATION 5A TO SECTION 2 71(1)(C) IS SATISFIED IN THE INSTANT CASE AND THEREFORE, LEVY OF PENALTY IS HEREBY DIRECTED TO BE DELETED. 4. THE LD. CIT(A) DID NOT ACCEPT THE EXPLANATION OF ASSESSEE BY HOLDING THAT AO SPECIFICALLY REQUIRED THE ASSESSEE TO PROVIDE DETAILS OF ALL IMMOVABLE PROPERTIES SOLD VIDE NOTICE U/S 142(1 ) DT. 23.02.2017. ONLY THEREAFTER ASSESSEE ON 04.11.2017 DISCLOSED TH E SHORT TERM CAPITAL GAIN OF RS.20,03,183/-. HOWEVER, THERE IS NO FINDIN G THAT THE SHORT TERM CAPITAL GAIN OFFERED BY THE ASSESSEE IS AS A RESULT OF ANY DOCUMENT/ MATERIAL/ INFORMATION FOUND DURING THE COURSE OF SE ARCH. THE DECISION OF HONBLE ITAT CHENNAI BENCH IN CASE OF ACIT VS. S &P FOUNDATION PVT. LTD. 189 TTJ 892/ 158 DTR 118 IS NOT APPLICABL E ON FACTS AS IN THAT CASE ASSESSEE WAS OBLIGED TO MAINTAIN BOOKS OF ACCOUNTS. IN THESE BOOKS SUM CREDITED ON ACCOUNT OF ADVANCE FROM ALLOT TES WAS OFFERED FOR TAX AS INCOME AND AT THE SAME TIME EXPENDITURE IS CLAIMED BY WAY ITA NO. 200/JP/2020 SHRI PREM JASHANDAS BHATIA VS DCIT, CENTRAL CIRCLE, KOTA 6 OF OWN MONEY PAID TO THE SELLERS OF THE LAND AND TH EREFORE, IT WAS HELD THAT THE MONEY RECEIVED DULY ENTERED IN THE BOOKS O F ACCOUNTS IS COVERED UNDER CLAUSE (I) AND (II) OF EXPLANATION 5A . IN THE PRESENT CASE NEITHER CLAUSE (I) NOR CLAUSE (II) OF EXPLANATION 5 A IS ATTRACTED AND THEREFORE, THIS DECISION IS DISTINGUISHABLE ON FACT S. 5. THE CASE OF ASSESSEE IS ALSO COVERED BY DECISION OF HONBLE ITAT, JAIPUR BENCH IN CASE OF AJAY TRADERS VS. DCIT ITA NO.296/JP/14 DT. 06.05.2016 WHERE ALSO IT WAS HELD THAT WHERE CERTAIN INCOME IS OFFERED FOR TAX IN SEC.153A PROCEEDINGS, THEN IN THE ABSENCE OF ANY INCRIMINATING DOCUMENT FOUND IN THE SEARCH, EXPLANATION 5A TO SEC. 271(1)(C) IS NOT APPLICABLE ON SUCH INCOME. IN VIEW OF ABOVE, PENALTY LEVIED BY AO AND CONFIRME D BY LD. CIT(A) BE DIRECTED TO BE DELETED. 2.6 ON THE OTHER HAND, THE LD. DR RELIED ON THE ORD ERS PASSED BY THE REVENUE AUTHORITIES. 2.7 WE HAVE HEARD THE LD. COUNSEL FOR BOTH THE PART IES AND WE HAVE ALSO PERUSED THE MATERIALS PLACED ON RECORD, JUDGEM ENTS/ ORDERS CITED BY THE PARTIES AS WELL AS THE ORDERS PASSED BY THE REV ENUE AUTHORITIES. FROM THE FACTS OF THE PRESENT CASE, WE NOTICED THAT DURI NG THE COURSE OF ASSESSMENT PROCEEDING U/S 153A OF THE ACT, AS PER A SSESSEE, WHILE PREPARING THE STATEMENT OF AFFAIRS, THE ASSESSEE NO TICED THAT THERE IS A SHORT TERM CAPITAL GAIN OF RS. 20,03,183/- ON SALE OF IMM OVABLE PROPERTY WHICH WAS LEFT TO BE INCLUDED IN THE INCOME BY OVERSIGH T. ACCORDINGLY, AS PER ASSESSEE, HE FILED THE REVISED COMPUTATION DECLARIN G TOTAL INCOME OF RS. 68,79,540/-INCLUDING THE SAID SHORT TERM CAPITA L GAIN AFTER PAYMENT OF TAX THEREON ON 4-11-2017. THE AO FRAMED THE ORDER OF A SSESSMENT BY ITA NO. 200/JP/2020 SHRI PREM JASHANDAS BHATIA VS DCIT, CENTRAL CIRCLE, KOTA 7 INCLUDING THE SAID SHORT TERM CAPITAL GAIN AS UNDI SCLOSED INCOME AND IMPOSED THE PENALTY BY REFERRING TO EXPLANATION 5A TO SECTION 271(1)( C) OF THE ACT . 2.8 IT IS AN ADMITTED FACT THAT IN SEARCH NO INCRIM INATING MATERIAL INDICATING ANY UNDISCLOSED INCOME FOR THE YEAR UNDE R CONSIDERATION WAS FOUND. THE COMPLETED ASSESSMENT CAN ONLY BE INFERRE D BY THE AO WHILE MAKING ASSESSMENT U/S 153A OF THE ACT ONLY ON THE B ASIS OF INCRIMINATING DOCUMENTS FOUND DURING THE COURSE OF SEARCH. ALTHOU GH, PRESENT CONTROVERSY BEFORE US IS WITH REGARD TO LEGALITY OF IMPOSITION OF PENALTY UPON THE ASSESSEE U/S 271(1)(C ) OF THE ACT BY ATTR ACTING THE PROVISIONS TO EXPLANATION 5A OF THE ACT. THE LD.AR HAD RELIED ON SEVERAL JUDGEMENTS WHICH ARE DULY MENTIONED IN THE WRITTEN SUBMISSIONS FILED BY HIM. 2.9 WE HAVE GONE THROUGH THE JUDGEMENTS/ORDERS REF ERRED BY BOTH THE PARTIES. IT IS NOTED THAT THE DECISION OF ITAT CHEN NAI BENCH IN THE CASE OF S&P FOUNDATION PVT. LTD 189 TTJ 892/ 158 DTR 118 RE FERRED BY THE REVENUE IS NOT APPLICABLE IN THE PRESENT CASE AS IN THAT CASE THE ASSESSEE WAS OBLIGED TO MAINTAIN BOOKS OF ACCOUNT. HOWEVER, AS PER PRESENT FACTS, THE ASSESSEE DERIVED INCOME FROM SALARY AND INCOME FROM OTHER SOURCES I.E. INTEREST INCOME AND HE IS REQUIRED TO MAINTAIN THE BOOKS OF ACCOUNT. IT IS SETTLED LEGAL PROPOSITION THAT PENALTY PROVISION MUST BE STRICTLY ITA NO. 200/JP/2020 SHRI PREM JASHANDAS BHATIA VS DCIT, CENTRAL CIRCLE, KOTA 8 CONSTRUED AND ONLY ON SATISFACTION OF CONDITIONS SP ECIFIED THEREIN, THE PENALTY CAN BE LEVIED. IN THE INSTANT CASE, THE ASS ESSEE HAS NOT BEEN FOUND TO HAVE EARNED SHORT TERM CAPITAL GAIN ON SALE OF I MMOVABLE PROPERTY DURING THE COURSE OF SEARCH. THE ASSESSEE IS AN INDIVIDUAL AND DERIVED INCOME FROM SALARY AND INCOME FROM OTHER SOURCES I. E. INTEREST INCOME AND HE WAS NOT REQUIRED TO MAINTAIN THE BOOKS OF AC COUNT. WE FOUND NOTHING ON RECORD WHICH SUGGESTS THAT ANY DOCUMENT/ MATERIAL/ INFORMATION WAS FOUND DURING THE COURSE OF SEARCH W HICH REMOTELY INDICATE THAT THE ASSESSEE IS RECIPIENT OF SHORT TE RM CAPITAL GAIN ON SALE OF IMMOVABLE PROPERTY. IT IS ONLY DURING THE COURSE OF PROCEEDINGS U/S 153A OF THE ACT THAT THE AO NOTICED THAT THE ASSESSEE IS IN RECEIPT OF SALARY INCOME WHICH HAS NOT BEEN DISCLOSED BY THE ASSESSE E IN HIS RETURN AND THE SAME WAS BROUGHT TO TAX. THE DISPUTE IS NOT THAT SH ORT TERM CAPITAL GAIN EARNED BY THE ASSESSEE ON SALE OF IMMOVABLE PROPERT Y WAS NOT OFFERED TO TAX BY THE ASSESSEE IN HIS RETURN OF INCOME WHICH I S AN ADMITTED POSITION BUT QUESTION IS WHETHER SUCH SHORT TERM CAPITAL GAI N ON SALE OF IMMOVABLE PROPERTY WAS FOUND DURING THE COURSE OF SEARCH AND OBVIOUSLY THE ANSWER TO THAT IS NOT IN AFFIRMATIVE. WE ALSO DRAW THE STRENGTH FROM THE DECISION OF COORDINATE BENCH, JAIPUR IN THE CASE OF SHRI YASH BHATIA IN ITA NO. 1142/JP/19 DATED 09-01-2020 AND THE DECISIO N OF HON'BLE ITA NO. 200/JP/2020 SHRI PREM JASHANDAS BHATIA VS DCIT, CENTRAL CIRCLE, KOTA 9 SUPREME COURT IN THE CASE OF PRICE WATERHOUSE COOPE RS PVT LTD. VS CIT (2012) 348 ITR 306. HENCE, IN THE PRESENT CASE, WE ARE OF THE CONSIDERED VIEW THAT NONE OF THE CONDITIONS SPECIFIED IN EXPLA NATION 5A TO SECTION 271(1)( C) OF THE ACT ARE ATTRACTED AND THEREFORE, LEVY OF PENALTY IS HEREBY DIRECTED TO BE DELETED. THUS THE APPEAL OF THE ASSE SSEE IS ALLOWED. 3.0 IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED WITH NO ORDER AS TO COST. ORDER PRONOUNCED IN THE OPEN COURT ON 01/09/202 0. SD/- SD/- JESK LH-'KEKZ LANHI XKSLKBZ (RAMESH C. SHARMA) (SANDEEP GOSAI N) YS[KKLNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 01/09/2020. *MISHRA VKNS'K DH IZFRFYFI VXZSFKR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT - SHRI PREM JASHANDAS BHATIA, KOTA 2. IZR;FKHZ@ THE RESPONDENT-THE DCIT, CENTRAL CIRCLE,KOTA 3. VK;DJ VK;QDR@ CIT 4. VK;DJ VK;QDR@ CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR . 6. XKMZ QKBZY@ GUARD FILE {ITA NO. 200/JP/2020} VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSTT. REGISTRAR