MEENAKSHI TEJAS PATEL,PUNE vs. ITO WARD 6(3), PUNE, PUNE

ITA 409/PUN/2026Status: DisposedITAT Pune20 July 2026AY 2019-205 pages
AI SummaryAllowed

What were the facts?

The assessee claimed selling expenses on cryptocurrency sale, which the AO disallowed based on Section 115BBH(2)(a). The AO then levied a penalty under Section 270A. The CIT(A) sustained the penalty.

What did the Tribunal hold?

The Tribunal held that Section 115BBH is applicable from AY 2023-24, not the current AY 2019-20. Therefore, the penalty levied for the disallowance in AY 2019-20 was not sustainable.

What were the issues?

Whether penalty under Section 270A is sustainable when the disallowance is based on a section (115BBH) that is not applicable to the assessment year in question.

Which sections of the Income-tax Act were involved?

Section 115BBH,Section 270A,Section 148A,Section 148,Section 143(2),Section 142(1),Section 147,Section 144B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE

Before: SHRI PAVAN KUMAR GADALE & DR. DIPAK P. RIPOTE

Hearing: 08.07.2026Pronounced: 20.07.2026

PER PAVAN KUMAR GADALE, JUDICIAL MEMBER The assessee has filed the appeal against the order of CIT(A)/NFAC, Delhi passed u/sec250 of the Act The assessee has raised the grounds of appeal challenging the order of the CIT(A) sustaining penalty u/sec270A of the Act levied by the Assessing Officer.

2.

The brief facts of the case are that, The Assessing Officer(A.O) has received information from the High Risk Transaction on verification Module of insight Portal that the assessee has entered into transactions of purchase of immovable property, time deposits with banks and the re

The order continues below.

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