SANJEEV SEHGAL,GHAZIABAD vs. JCIT, RANGE-2, GHAZIABAD

PDF · subscribers
ITA 1752/DEL/2021Status: DisposedITAT Delhi15 March 2023AY 2017-182 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the assessee's claim of an earlier agreement was not substantiated, as the payments were made in the financial year 2016-17 and the sale deed was executed in 2017. The penalty under Section 271D was rightly applied.

What were the facts?

The assessee received cash of Rs. 2,05,000/- in contravention of Section 269SS of the Income Tax Act. The assessee failed to provide any reasonable cause for this contravention as required by Section 273B.

What were the issues?

Whether the penalty under Section 271D for contravention of Section 269SS is leviable when no reasonable cause is shown by the assessee under Section 273B.

Which sections of the Income-tax Act were involved?

Section 269SS,Section 271D,Section 273B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘H’ : NEW DELHI

Before: SH. N.K.BILLAIYA & SH. ANUBHAV SHARMA

Hearing: 15.03.2023Pronounced: 15.03.2023

Per Anubhav Sharma, JM :

Heard and perused the record.

2.

As the case was called for hearing, non-appeared for the assessee/appellant and the record shows, notices have been repeatedly issued and notice stand served upon the assessee for which report is filed by the revenue.

3.

The assessee is in appeal challenging the order dated 29.08.2021 from national faceless appeal centre in regard to assessment order dated 02.07.2019

1.

1752.Del.2021 Sanjeev Sehgal u/s 271D of the Income Tax Act, 1961 (hereinafter referred to as the “Act”) passed by Joint Commissioner of Income Tax, Range-2, Ghaziabad (hereinafter referred to as ‘the Ld. AO’) wherein Ld. CIT(A) has dismissed the appeal of assessee and sustained the levy of penalty.

4.

It can be appreciated from the matter on record that as with regard to the fact of receiving cash of Rs. 2,05,000/- in contravention of provisions of 269(SS) of the Act assessee had failed to bring on record any reasonable cause as mandated u/s 273B of the Act. The claim that the agreement was entered on 03.04.2014 is not substantiated, as the payments by way of banking channel are of the financial year 2016-17 and the sale deed under which receipt of cash is established was executed on 03.01.2017. So Amendment to section 269SS of the Act, wef 1.6.2015 vis a vis penalty u/s 271D was rightly applied. There is no substance in the grounds, consequently the appeal of assessee is dismissed.

Order pronounced in the open court on 15th March, 2023.

More judgments on Section 269SS

All 1,429 judgments and leading authorities on Section 269SS →

Recent GST High Court judgments

Search GST case law →