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It will be appropriate to remand back this issue of unsecured loan, receipt of cash and insurance commission to the file of the CIT(A) for deciding it with the reasoned order.

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Sec. 271(1)(c) of Income Tax Act, 1961 – Penalty – The case of the assessee was reopened u/s 147 of the Act,1961 and assessment was framed u/s 143(3)/147 of I.T. Act, 1961 after making certain additions to the taxable income of the assessee. The CIT(A) deleted certain additions and confirmed some additions made by the AO. In the meanwhile the penalty under Section 271(1)(c) of the Act, 1961 was also imposed on the ground that the assessee is in default for concealing the particulars of his income. Thus, the minimum penalty @ 100% of the taxed evaded was levied. The CIT(A) partly allowed the appeal of the assessee. ITAT allowed the appeal of the assessee holding that:– merely, holding that confirmation in respect of unsecured loan, receipt of cash and insurance commission clearly fall within the ambit of concealment is not sufficient. The CIT(A) also not considered the submissions of the Assessee during the appellate proceedings. Therefore, it will be appropriate to remand back this issue of unsecured loan, receipt of cash and insurance commission to the file of the CIT(A) for deciding it with the reasoned order – DEVENDER KUMAR Vs. ITO [2020] 79 ITR (TRIB) 419 (ITAT-DELHI)