S. 271D : Penalty-Takes or accepts any loan or deposit-Sale of flat-assessee collecting sale proceeds and also purchasing for daughter’s wedding-Failure on part of assessee reasonable-Words, “reasonable cause” and “Reasonable” to be taken into consideration as per 273B-Held, a penalty not to be imposed. [S. 273B]

S. 271(1)(c): Penalty-Concealment-Search-Search initiated on or after 1st June, 2007-Bogus purchases-Penalty in search cases cannot be levied u/s. 271(1)(c) for AY. 2012-13 .[S. 271AAA]

S. 271(1)(c): Penalty —Concealment-CIT (A) observed that assessee was subjected to pay taxes u/s 115JB,even after taking into consideration additions made in assessment order-held, with reference to cbdt circular no. 25 of 2015, dated 31.12.2015 penalty was not leviable-Order upheld. [S.115JB]

S. 271(1)(c): Penalty-Concealment-Transfer pricing adjustment-Application of filters and selection of comparables are debatable issues-not ground for levy of penalty-suo-moto disallowance of provision for doubtful debts-tribunal directed the ao to withdraw disallowance after verification-as addition did not survive-cancellation of penalty justified-denial of deduction u/s 10a-proposed in draft assessment order but deleted by drp-deduction allowed in full in final assessment order-penalty does not survive.

S. 271(1)(c):Penalty-Concealment-Assessee declared additional income in his ROI filed in response to S. 148 notice-the same was accepted by the AO without any variation-Held, Penalty was not leviable. [S. 147, 148]

S. 271(1)(c): Penalty-Concealment-Once the return filed in response to section 148 of the Act is accepted, no penalty can be levied. Observation of the AO must be specific and penalty cannot be levied for non-filing of original return u/s 139(1) .[S.139(1), 148]

S. 271(1)(c) : Penalty-Concealment-Furnishing Inaccurate Particulars Of Income-quantum and penalty proceedings are independent proceedings-no specific finding how disallowance constituted furnishing of inaccurate particulars of income by assessee-Penalty not leviable merely based on confirmation of addition in quantum proceedings. [S. 14A]

S. 271(1)(c): Penalty-Concealment -Cash deposits in account-partly explained as agricultural income-claim rejected by Commissioner Appeals-Held, penalty deleted as there was sufficient evidence on record to believe the assessee’s explanation. [S. 69]

S. 271(1)(c) : Penalty-Concealment-Not specifying the charge-Assessing Officer issuing notice without specifying particular limb under which penalty proceedings initiated-Non-application of mind by Assessing Officer-Penalty cannot be levied.[S. 274]

S. 271(1)(c) : Penalty-Concealment-Concealment of income or furnishing of inaccurate particulars of income-Assessee voluntarily depositing tax with computation of income before issue of notice.[S.133(6)]