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Income Tax Appellate Tribunal, DELHI BENCH E, NEW DELHI
Before: SH. S. RIFAUR RAHMAN & SH. SUDHIR KUMAR
Date of hearing: 14/08/2025 Date of Pronouncement: 20/08/2025 ORDER
PER SUDHIR KUMAR, JM:
This appeal by the assessee is directed against the order of National Faceless Appeal Centre/ Commissioner of Income Tax (Appeals), Delhi, [hereinafter referred to as “CIT(A)”], vide order dated 10.02.2025 pertaining to A.Y. 2013-14 and arises out of the penalty order dated 20-03-2020 passed by the Assessing Officer under Section 271(1)(c) of the Income Tax Act, 1961 [hereinafter referred as ‘the Act’].
The assessee has raised the following grounds of appeal :-
1. That the Ld. CIT(A),NFAC Delhi has grossly erred in law as well as on facts in sustaining the penalty levied by Ld. AO u/s 271(1) (c) of the Act amounting to Rs. 7348050/-.
2. That the appellant craves leave to add, alter, amend or withdraw all or any grounds herein or add any further grounds as may be considered necessary either before of during the hearing of these grounds.
3. The brief facts of the case are that the assessee is an individual and farmer by profession. For the year in concern the assessee sold agriculture land which was ancestral property and utilized the sale proceeds for purchasing of agriculture land in the name of his two sons and his wife and construction of a residential house. Notice u/s 148 of the Act was issued by ITO Rewari on 26-03-2014 after recording reasons that the assessee has sold immovable property valued at Rs.5,96,62,500/-. The Assessing officer completed the assessment u/s.143(3) of the Act determining the income of Rs. 3,59,20,152/-on account of Long- Term Capital Gain and penalty proceedings u/s 271(1)(c) of the Act, was also initiated. After considering the submission made by the assessee the Assessing officer held that the assessee was having an income of Rs. 3,59,01,562/- during the year from under the head Long- Term Gain and assessee has