ASSTT. COMMISSIONER OF INCOME TAX, LUCKNOW vs. SHRI K.N. SINGH PATEL, LUCKNOW

ITA 572/LKW/2014Status: DisposedITAT Lucknow30 June 2026AY 2008-0910 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that while Explanation 5A to Section 271(1)(c) applies to searches conducted after June 1, 2007, Section 271AAA(3) prohibits the imposition of penalty under Section 271(1)(c) for undisclosed income covered by Section 271AAA(1). Therefore, the penalty was wrongly imposed.

What were the facts?

The Revenue appealed against the deletion of penalty imposed under Section 271(1)(c) by the CIT(A). The penalty was levied on income surrendered during a search operation. The High Court had previously remanded the matter to the Tribunal to examine the effect of Explanation 5A to Section 271(1)(c).

What were the issues?

Whether penalty under Section 271(1)(c) can be imposed when Section 271AAA is applicable, and the interplay between Explanation 5A to Section 271(1)(c) and Section 271AAA(3).

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 271AAA

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, LUCKNOW BENCH “B”, LUCKNOW

Before: SHRI KUL BHARAT & SHRI ANADEE NATH MISSHRA

PER KUL BHARAT, VICE PRESIDENT.: These appeals, by the Revenue filed against the order of the Learned Commissioner of Income-tax (Appeals)-III, Lucknow dated 28.02.2014 pertaining to the assessment years 2007-08 & 2008-09. For the sake of convenience and brevity, both the appeals were heard together and are being disposed of by this consolidated order. First, we take

The order continues below.

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