DCIT, EXEMPTION CIRLCE, GHAZIABAD, GHAZIABAD vs. M/S KANPUR DEVELOPMENT AUTHORITY, KANPUR
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Income Tax Appellate Tribunal, DELHI BENCH “G” NEW DELHI
Before: SHRI SATBEER SINGH GODARA & SHRI SANJAY AWASTHI
PER SANJAY AWASTHI, ACCOUNTANT MEMBER:
This appeal arises from order dated 21.04.2026, passed u/s 250 of the Income Tax Act, 1961 (hereafter as “the Act”), by NFAC.
1 In this case, the Ld. AO levied a penalty of Rs.19,65,00,000/- u/s 271(1)(c) of the Act, vide order dated 22.03.2025. 2. Right at the outset, the Ld. AR placed for the perusal of the Bench an order of coordinate bench of ITAT dated 26.03.2025 [ITA No.921/Del/2024] in his own case. This order of ITAT pertains to the quantum matter for AY 2015-16 regarding which the impugned penalty was levied. It was pointed out that the ITAT’s
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