ASHOK GOYAL,GWALIOR vs. DCIT/ACIT 1(1), GWALIOR, GWALIOR

ITA 322/AGR/2026Status: DisposedITAT Agra09 September 2026AY 2012-1324 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that since the assessee filed a correct return during reassessment proceedings, and the returned income was accepted by the AO without variation, no penalty could be levied. The penalty was deleted based on the principle that concealment must be viewed with reference to the return filed during reassessment.

What were the facts?

The assessee's assessment was reopened due to alleged incorrect calculation of long-term capital gains on property sales. The Assessing Officer (AO) initiated penalty proceedings under Section 271(1)(c) for concealment of income or furnishing inaccurate particulars.

What were the issues?

Whether penalty under Section 271(1)(c) is leviable when the returned income during reassessment is accepted by the AO without any variation. The applicability of principles from previous judgments regarding penalty in cases of accepted reassessment returns.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 148,Section 143(3),Section 50C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AGRA(SMC

Before: SUNIL KUMAR SINGHBRAJESH KUMAR SINGH

For Appellant: Shri Nitin Goya Adv. & Sh. Amit Goyal
Hearing: 09.07.2026Pronounced: 09.09.2026

PER:BRAJESH KUMAR SINGH, A.M.

These two appeals are directed against two impugned orders both dated 26.03.2026 passed in appeal No CIT(A), Gwalior/10156/2019-20 and appeal No. CIT(A), Gwalior/10157/2019-20 respectively by the NFAC

ITA 322 & 323/Agr/2026

(hereinafter referred to as the “CIT(A) u/s. 250 of the Income Tax Act, 1961 (hereinafter referred to as the “Act”) for the A.Y. 2012-13 & 2013-14, wherein ld. CIT(A) has dismissed both the appeals of the assessee. Since both the appeals relate to the same assessee, therefore, they are disposed by this common order for the sake of brevity and convenience.

2.

Brief facts of the case: In this case the origi

The order continues below.

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