Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, “SMC” BENCH, KOLKATA
Before: DR. MANISH BORAD, HON’BLE & SHRI SONJOY SARMA, HON’BLE
O R D E R
PER DR. MANISH BORAD, ACCOUNTANT MEMBER :
The above captioned appeal is directed at the instance of the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter the “ld. CIT(A)”) dt. 19/01/2023, passed u/s 250 of the Income Tax Act, 1961 (“the Act”) for the Assessment Year 2014-15.
The sole grievance of the assessee is that the ld. CIT(A) erred in confirming the disallowance of Rs.31,156/- u/s 37(1) of the Act treating the same as penalty given to M/s. Indian Oil Corporation Ltd. (IOC Ltd.).
We have heard rival contentions and perused the record placed before us. The assessee is a HUF engaged in business. Income of Rs.15,08,400/- declared in the Income-tax return for Assessment Year 2014-15 filed on 29/11/2014. During the course of assessment