SMT. ANITA SUNIL MAHAJAN,NASHIK vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 1, NASHIK

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ITA 1859/PUN/2017Status: DisposedITAT Pune12 July 2021AY 2013-1411 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 held that the definition of 'relative' for Section 40A(2)(b) is governed by Section 2(41) of the Income-tax Act, not the broader definition in Section 56(2)(v). Only one transaction with the assessee's husband qualified as a transaction with a 'relative'.

What were the facts?

The assessee reported payments to persons specified under Section 40A(2)(b) in her tax audit report. The Assessing Officer imposed a penalty under Section 271AA for failure to maintain information and furnish a report as required by Sections 92D and 92E, considering these as Specified Domestic Transactions (SDTs).

What were the issues?

Whether the penalty under Section 271AA was rightly imposed for failure to comply with Section 92D/92E provisions concerning Specified Domestic Transactions, and the correct interpretation of 'relative' under Section 40A(2)(b).

Which sections of the Income-tax Act were involved?

Section 271AA,Section 92D,Section 92E,Section 92BA,Section 40A(2)(b),Section 2(41)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH ―A‖, PUNE – VIRTUAL COURT

Before: SHRI R.S. SYAL & SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Pramod Shingte
For Respondent: Shri Vitthal Bhosale

आदेश की प्रतिलिपि अग्रेपिि/Copy of the Order is forwarded to: अपीऱधर्थी / The Appellant; 1. प्रत्यर्थी / The Respondent; 2. 3. The CIT(A)-1, Nashik 4. The Pr.CIT-1, Nashik 5. DR ‗A‘, ITAT, Pune गार्ड फाईल / Guard file 6. आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अधिकरण ,पुणे / ITAT, Pune

Date 1. Draft dictated on 09-07-2021 Sr.PS 2. Draft placed before author 12-07-2021 Sr.PS 3. Draft proposed & placed JM before the second member 4. Draft discussed/approved JM by Second Member. 5. Approved Draft comes to Sr.PS the Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *

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