RAJESH POPLI,SHIMLA vs. DCIT, CHANDIGARH

PDF · subscribers
ITA 1393/CHANDI/2016Status: DisposedITAT Chandigarh06 May 2019AY 2011-125 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal upheld the penalty on unaccounted sales, citing the assessee's admission and the Assessing Officer's scientific calculation. However, it directed remission on penalty for short-term capital gains related to cost of improvement.

What were the facts?

During a search operation, the assessee admitted to unaccounted purchases and sales. The Assessing Officer estimated profit on sales made outside books and levied penalty. The assessee argued that penalty is not leviable on estimated income.

What were the issues?

Whether penalty under Section 271(1)(c) is leviable on income estimated based on an assessee's admission of unaccounted transactions and whether penalty is justified on cost of improvement for capital gains.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 69B

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(5)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, CHANDIGARH BENCH “B”, CHANDIGARH

Before: Sh. SANJAY GARG, JUDICIAL MEMEMBER & DR. B.R.R. KUMAR

For Appellant: Shri Tej Mohan Singh (Proxy for Shri Vishal Mohan)
For Respondent: Smt. Renu Amitabh, CIT DR
Hearing: 14/02/2019Pronounced: 06/05/2019

आदेश क� ��त�ल�प अ�े�षत/ Copy of the order forwarded to :

1.

अपीलाथ�/ The Appellant 2. ��यथ�/ The Respondent 3. आयकर आयु�त/ CIT 4. आयकर आयु�त (अपील)/ The CIT(A) 5. �वभागीय ��त�न�ध, आयकर अपील�य आ�धकरण, च�डीगढ़/ DR, ITAT, CHANDIGARH 6. गाड� फाईल/ Guard File

आदेशानुसार/ By order, सहायक पंजीकार/ Assistant Registrar

More judgments on Section 271(1)(c)

All 25,141 judgments and leading authorities on Section 271(1)(c) →

Recent GST High Court judgments

Search GST case law →