Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, DELHI BENCH “SMC”, NEW DELHI
Before: SHRI R. K. PANDA
Assessee by : Shri Deepesh Garg, Adv. Department by : Shri D. S. Rawat, Sr. DR Date of hearing : 10-10-2018 Date of pronouncement : 10-10-2018 O R D E R
PER R. K. PANDA, AM :
This appeal filed by the assessee is directed against the order dated 25.09.2017 of the CIT(A)- 1, Noida relating to assessment year 2010-11.
The assessee, in its various grounds of appeal
, has challenged the order of the ld. CIT(A) in levying the penalty of Rs.77,85,120/- u/s 271(1)(c) on the enhanced income of Rs.2,48,74,564/-.
3. The ld. counsel for the assessee submitted that the Assessing Officer in the instant case denied the claim of exemption u/s 11 and 12 and determined the total income of Rs.12,40,589/-.
4. In appeal, the ld. CIT(A) issued enhancement notice u/s 251(A) and determined the total income at Rs.2,61,15,153/- by making the addition of Rs.2,48,74,564/-. Subsequently, he issued penalty notice u/s 271(1)(c) at the time of disposal of the appeal for levy of penalty on the enhanced income. Rejecting the various explanations given by the assessee, the ld. CIT(A) levied