VIKRAM BAKSHI,NEW DELHI vs. COMMISSIONER OF INCOME TAX APPEAL (NFAC), DELHI
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Income Tax Appellate Tribunal, DELHI BENCH ‘B’, NEW DELHI
Before: Sh. S. Rifaur Rahman & Sh. Raj Kumar Chauhan
Per Raj Kumar Chauhan, Judicial Member:
This appeal of the assessee is directed against the order dated 07.05.2024 of ld. CIT(A)/NFAC, Delhi passed u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) for A.Y. 2021-22 wherein, the penalty order dated 28.11.2024 is passed u/s 270A during the appellate proceedings by ld. CIT(A)/NFAC, Delhi on the ground that the appellant has misrepresented facts while calculating LTCG in sale of two immovable properties and that lead to claim of excess deduction of LTCG and also under reporting of his total income in the return of income filed. Hence, a separate penalty proceedings u/s 270A of the Act was initiated during the course of appellate proceedings.
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