VASAVI BUILDERS,HYDERABAD vs. DCIT, CENTRAL CIRCLE-3(2), HYD, HYDERABAD

ITA 1300/HYD/2026Status: DisposedITAT Hyderabad24 June 2026AY 2022-2376 pages
AI SummaryAllowed

What were the facts?

During a search operation, incriminating materials including tally data were seized, indicating alleged cash receipts from customers in violation of Section 269ST. The assessee admitted additional income to cover discrepancies.

What did the Tribunal hold?

The Tribunal held that the Assessing Officer had not conclusively proved the violation of Section 269ST to levy penalty under Section 271DA. The penalty was considered astronomically high and not sustainable.

What were the issues?

Whether penalty under Section 271DA is leviable when the Assessing Officer has not conclusively proved the violation of Section 269ST and if the penalty is reasonable in proportion to the estimated income.

Which sections of the Income-tax Act were involved?

Section 271DA,Section 269ST,Section 132,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 Builders” are directed against the separate, but identical orders of the learned Commissioner of Income Tax (Appeals), Hyderabad – 11, [for sho

The order continues below.

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