ALAG SECURITIES P.LTD,MUMBAI vs. ACIT CC 46, MUMBAI

PDF · subscribers
ITA 1079/MUM/2015Status: DisposedITAT Mumbai17 January 2018AY 2010-113 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal noted that the quantum additions had been set aside for fresh adjudication. Therefore, the consequential penalty under Section 271AAA did not survive and was deleted.

What were the facts?

The assessee appealed against the confirmation of penalty under Section 271AAA. The penalty was levied consequent to quantum additions made in the assessment order.

What were the issues?

Whether a penalty levied consequent to quantum additions can survive if the quantum additions are set aside for fresh adjudication.

Which sections of the Income-tax Act were involved?

Section 271AAA,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “E” BENCH, MUMBAI

Before: SHRI D.T. GARASIA, JM & SHRI MANOJ KUMAR AGGARWAL, AM

Per Manoj Kumar Aggarwal (Accountant Member)

More judgments on Section 271AAA

All 606 judgments and leading authorities on Section 271AAA →

Recent GST High Court judgments

Search GST case law →