YUGAANDHAR HOUSING PRIVATE LIMITED,VIJAYAWADA vs. THE ASST. COMMISSIONER OF INCOME TAX, , VIJAYAWADA

ITA 383/VIZ/2026Status: DisposedITAT Visakhapatnam31 August 2026AY 2012-1310 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that penalty under Section 271(1)(c) cannot be levied solely on estimated income, as estimation does not inherently prove concealment. It relied on Supreme Court and High Court precedents.

What were the facts?

During a search, incriminating material indicated suppressed receipts by the assessee, a real estate developer. The Assessing Officer (AO) made additions based on this, and the Tribunal later directed estimation of profit at 8.8% on undisclosed turnover.

What were the issues?

Whether penalty under Section 271(1)(c) is leviable when income is assessed on an estimated basis rather than on proven concealment. Whether estimation of profit on undisclosed turnover constitutes concealment of particulars of income.

Which sections of the Income-tax Act were involved?

Section 132,Section 143(3),Section 153A,Section 271(1)(c),Section 274

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI VIJAY PAL RAO, HON’BLE & SHRI MANJUNATHA G, HON’BLE

Heard together (2 matters)

ITA 383/VIZ/2026
ITA 384/VIZ/2026

Read from the judgment's own cause title. This page is filed under one of them.

PER MANJUNATHA G, AM: The above appeals are directed against separate orders of the Learned Commissioner of Income Tax (Appeals), Visakhapatnam-3, [hereinafter in short “Ld. CIT(A)”], tabulated hereinbelow. Since common issues are involved in both these appeals, therefore, for the sak

The order continues below.

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