VASAVI DEVELOPERS LLP,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(2), HYDERABAD

ITA 1361/HYD/2026Status: DisposedITAT Hyderabad24 June 2026AY 2018-1976 pages
AI SummaryAllowed

What were the facts?

During a search operation, incriminating materials including tally data were seized, revealing alleged cash receipts from customers not recorded in regular books. 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 and that the penalty under Section 271DA was not sustainable. The Tribunal also considered the principle of reasonableness and the intention behind Section 115BFA(2).

What were the issues?

Whether the penalty under Section 271DA was rightly levied without proper satisfaction and conclusive proof of violation of Section 269ST, and if the admission of additional income and payment of tax warranted immunity from penalty.

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 Developers LLP” are directed against the separate, but identical orders of the learned Commissioner of Income Tax (Appeals), Hyderabad

The order continues below.

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