LATE SHRI VISHNU KUMAR GURNANI,JAIPUR vs. DCIT, CENTRAL CIRCLE - 1, JAIPUR

ITA 1788/JPR/2025Status: DisposedITAT Jaipur16 September 2026AY 2015-168 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the notice issued under Section 274, which did not specify whether the penalty was for concealment or furnishing inaccurate particulars, was invalid. Consequently, the penalty levied based on this invalid notice could not be sustained.

What were the facts?

During a survey, the assessee surrendered undisclosed income. While a significant portion was offered in the return, a difference of Rs 10 lakhs was later admitted and tax paid during assessment proceedings. Penalty proceedings were initiated under Section 271(1)(c) for concealment or furnishing inaccurate particulars.

What were the issues?

The primary issue was the validity of the penalty notice under Section 274 of the Income Tax Act, 1961, for not specifying the exact charge against the assessee.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 274,Section 133A,Section 143(3),Section 273B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘SMC’ BENCH, JAIPUR

Before: Shri Kuldip Singh & Shri Prakash

PER : PRAKASH, ACCOUNTANT MEMBER:-

1.

This appeal by the Assessee is directed against the order of the learned Commissioner of Income Tax (Appeals) 4, Jaipur [hereinafter referred to as "the learned CIT(A)"] dated 26.09.2025 arising out of the penalty order dated 28.05.2018 passed by the Assessing Officer (hereinafter referred to as "the AO") under section 271(1)(c) of the Income Tax Act, 1961 (hereinafter referred to as "the Act") for the assessment year 2015-16. The assessee, Shri Vishnu Kumar Gurnani, has since passed away and the Late Shri Vishnu Kumar Gurnani appeal has been filed and is being prosecuted through his legal heir, Smt. Pushpa Devi Gurnani.

2.

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The order continues below.

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