- (1.) This appeal under Section 260A of the Income-tax Act, 1961 is at the instance of an assessee and is directed against an order dated August 21, 2009, passed by the Income-tax Appellate Tribunal, B Bench, Kolkata, in Income-tax Appeal bearing ITA No.433/Kol/2009 for the Assessment Year 2001-2002.
(2.) Being dissatisfied, the appellant has come up with the present appeal.
(3.) The facts leading to filing of the present appeal may be summed up thus: a) The appellant is an individual and is assessed to tax under the Act and the present appeal arises out of the appellant s assessment and initiation of penalty proceedings under the Act for the Assessment Year 2001-2002, for which the relevant previous year was the financial year ending on March 31, 2001. b) During the financial year 2000-2001, the appellant had changed his job. Up to November 30, 2000 the appellant was employed with KPMG Consulting Pvt Ltd. and had earned gross salary of Rs.5,47,358/-. Thereafter, the appellant from December 1, 2000, joined Price Water House Coopers Pvt. Ltd. wherefrom he earned gross salary of Rs.4,18,555/- for the relevant period under consideration. c) Thus, the appellant, during the relevant period under consideration earned a total gross income of Rs.9,65,913/- (Rs.5,47,358/- + Rs. 4,18,555/-) but the appellant filed its return for the said period showing the gross income of only Rs.4,18,555/- and claimed TDS of Rs. 1,32,367/-. d) The appellant, thus, did not include the gross income of Rs. 5, 47,358/- earned from KPMG. It may not be out of place to mention here that from the salary payable by KPMG, there was deduction at source and such deduction at source was also not mentioned in the return of the appellant. e) Subsequently, the appellant received a notice under Section 148 of the Act as the Assessing Officer on obtaining information from the former employer had reason to believe that a part of the income of the appellant escaped assessment. The appellant replied to the said notice requesting the Assessing Officer to treat his original return as the return filed in response to the aforesaid notice. Thereafter, the Assessing Officer ex parte assessed the appellant to the tune of Rs.6,43,900/ - and a penalty proceedings under Section 271(1)(c) of the Act was separately initiated. f) Being aggrieved by the aforesaid order of assessment, the appellant preferred an appeal before the Commissioner of Income-tax (Appeals) wherein the appellant submitted that due to inadvertent mistake, he did not include the gross income of Rs. 5,47,358/- earned from the former employer though the tax on the said income was covered by TDS certificate. The said Appellate Authority, by an order dated February 5, 2007 directed the Assessing Officer to recompute the income of the appellant in accordance with such income enhanced by the aforesaid appellate authority and to allow the rebate and TDS after due verification. g) The Assessing Officer, subsequently, by his order dated November 22, 2007 recomputed the income of the appellant and initiated reassessment proceeding. The appellant in reassessment notice stated his correct income and filed return on May 7, 2007 disclosing total income of Rs.8,35,230/- and the Assessing Officer thereafter, by order dated November 22, 2007 assessed the appellant s income accordingly as stated in the aforesaid return and also launched penalty proceedings under Section 271(1)(c) of the Act. h) Subsequently, by an order dated May 30, 2008, the Assessing Officer held that since there was a difference in tax of Rs.1,98,582/- between the original return and return dated May 7, 2007 filed in course of reassessment proceedings, tax on income to the extent of the said amount was concealed warranting invocation of penalty @ 100% and consequently, the appellant was served with a demand notice under Section 156 of the Act. i) Aggrieved by the said order of penalty, the appellant preferred an appeal before the Commissioner of Income-tax (Appeals) and the said appellant authority by its order dated December 16, 2008 upheld the penalty levied by the Assessing Officer. j) Being dissatisfied, the appellant preferred an appeal before the Income-tax Appellate Tribunal and the said Tribunal by the order impugned herein upheld the aforesaid order of imposition of penalty. k) Against the aforesaid order dated August 21, 2009 passed by the Tribunal, the appellant has come with the present appeal under Section 260A of the Act.;