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INCOME TAX APPELLATE TRIBUNAL (CHENNAI BENCH)
GEORGE GEORGE K, Vice-President, INTURI RAMA RAO, Accountant Member
Asst. Commissioner of Income Tax, Central Circle – 2, Coimbatore – Appellant
Versus
Sri Maheswary Granites (P) Ltd. – Respondent
| Table of Content |
|---|
| 1. search revealed undisclosed stock; penalty initiated under 271aab(1)(c) (Para 2 , 3 , 4 , 5 , 6) |
| 2. revenue argues defective notice causes no prejudice; participation cures defect (Para 7) |
| 3. assessee relies on cit(a) and prior tribunal order (Para 8) |
| 4. penalty notice must specify 271aab limb for natural justice (Para 9 , 10 , 11 , 12) |
| 5. gangotri textiles distinguishable; issue raised timely (Para 13 , 14) |
| 6. defective notice invalidates penalty; revenue appeal dismissed (Para 15 , 16) |
आदेश/ORDER
PER GEORGE GEORGE K, VICE PRESIDENT:
This appeal filed by the Revenue is directed against the order of Commissioner of Income Tax (Appeals), Chennai-20, dated 26.08.2025 passed under section 250 of the Income Tax Act, 1961 (hereinafter called ‘the Act’). The relevant Assessment Year in 2015-16.
2. The grounds raised by the department read as follows:-
1. The Order of the learned Commissioner of Income Tax (Appeals) is erroneous on facts and in law.
2. The Ld.CIT(A) erred in deleting Rs.69,71,783/- levied as penalty u/s 271AAB(1) (c).
3. The Ld.CIT(A) erred in relying on the decision of Manjunatha Cotton & Ginning Factory [2013] 359 ITR 565/218 Taxman 423/35 taxmann.com.250 & Comm
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