JAI PRAKASH BHAGAT,JAMSHEDPUR vs. ITO, JAMSHEDPUR

ITA 351/RAN/2026Status: DisposedITAT Ranchi31 August 2026AY 2017-183 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the penalty issue should be decided after the quantum appeal is adjudicated. Therefore, the matter was restored back to the CIT(A) to decide the penalty after considering the quantum appeal.

What were the facts?

The assessee sold an immovable property for ₹10,75,000, but the stamp duty value was ₹27,40,000. The Assessing Officer reopened the case, added the difference as capital gains, and imposed a penalty under Section 270A. The CIT(A) dismissed the appeal due to a delay.

What were the issues?

Whether the penalty under Section 270A is sustainable when the quantum appeal is still pending and the CIT(A) dismissed the appeal on delay without deciding on merits.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 270A,Section 249(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RANCHI BENCH, RANCHI

Before: SHRI RATNESH NANDAN SAHAY & SMT. RAJANI GUDURI

For Appellant: Shri Umesh Kumar Singh, Adv
For Respondent: Shri Sandipan Khan, Sr.DR
Hearing: 31/08/2026Pronounced: 31/08/2026

PER: BENCH

1.

This appeal by the assessee is directed against the order of the National Faceless Appeal Centre (NFAC), Delhi [in short, the ld. CIT(A)] dated 29/04/2026 for the Assessment Year (AY) 2017-18. 2. Facts of the case, in brief, are that the assessee has filed return of income on 31/07/2017 declaring total income of ₹ 2,97,500/-. Subsequently, the Assessing Officer received information that the assessee has transacted high value of immovable property where the consideration received as a result of transfer of capital asset is less than the value adopted by the Stamp Valuation authority. The assessee ha

The order continues below.

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