SHRI DEVABHAI AHIR,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD- 7(2)(1), AHMEDABAD

ITA 2082/AHD/2016Status: DisposedITAT Ahmedabad27 September 2017AY 2008-093 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that since the quantum addition was deleted by a coordinate bench in earlier proceedings, the penalty levied on that addition cannot be sustained. Therefore, the penalty was deleted.

What were the facts?

The Assessing Officer made an addition of Rs. 13,00,000/- on account of unexplained investment under section 69. The CIT(A) confirmed this addition and initiated penalty proceedings under section 271(1)(c).

What were the issues?

Whether penalty under section 271(1)(c) can be levied when the primary addition under section 69 has been deleted.

Which sections of the Income-tax Act were involved?

Section 69,Section 271(1)(c)

AI-generated summary — verify with the full judgment below

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Before: SHRI MAHAVIR PRASAD & SHRI AMARJIT SINGH

For Respondent: Shri Prajna Paramita, Sr.D.R
Pronounced: 27/09/2017

PER SHRI MAHAVIR PRASAD, JUDICIAL MEMBER :

This is an appeal by the assessee against the order of the Commissioner of Income Tax(Appeals)-7, Ahm

The order continues below.

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