VASAVI AND GP INFRA LLP,HYDERABAD vs. ACIT, CENTRAL CIRCLE - 3(2), HYDERABAD

ITA 1048/HYD/2026Status: DisposedITAT Hyderabad24 June 2026AY 2019-2076 pages
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What were the facts?

During a search operation, the assessee firm was found to have received cash from customers for property sales that were not fully recorded in their books. The Assessing Officer (AO) initiated penalty proceedings under Section 271DA for alleged violations of Section 269ST.

What did the Tribunal hold?

The Tribunal held that the AO had not conclusively proved the violation of Section 269ST and had selectively used incomplete books for penalty while rejecting them for assessment. The penalty was also considered excessive given the admitted income and tax paid.

What were the issues?

Whether the penalty under Section 271DA was sustainable without conclusive proof of Section 269ST violation and if the penalty was reasonable in light of admitted income and tax paid.

Which sections of the Income-tax Act were involved?

Section 271DA,Section 269ST,Section 132,Section 132(4),Section 115BFA(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Hyderabad “B” Bench, Hyderabad

For Appellant: Dr. Narendra Kumar Naik, CIT-DR and Dr. Sachin Kumar, Sr. A.R

PER BENCH : The captioned appeals filed by the assessee firm i.e. “Vasavi and GP Infra LLP” are directed against the separate, but identical orders of the learned Commissioner of Income Tax (Appeals), Hyderaba

The order continues below.

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