Sundaram Finance Ltd. v. CIT

Deputy Commissioner of Income Tax-1, Kanpur vs. Smt. Shehla Ahmed, Kanpur

In the result, the appeal of the Revenue and the cross objection of the assessee are dismissed

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2013-14 Dy. Cit-1 V. Smt. Shehla Ahmad Kanpur 376-C, Allied Street Jajmau, Kanpur Tan/Pan:Aexpa4122N (Appellant) (Respondent) C.O. No.09/Lkw/2018 [In Ita No.181/Lkw/2018] Assessment Year: 2013-14 Smt. Shehla Ahmad V. Dy. Cit-1 376-C, Allied Street Kanpur Jajmau, Kanpur Tan/Pan:Aexpa4122N (Cross-Objector) (Respondent) Department By: Shri R. K. Vishvakarma, D.R. Assessee By: Shri Swarn Singh, Fca Date Of Hearing: 24 07 2019 Date Of Pronouncement: 22 08 2019 O R D E R Per A. D. Jain, V.P.: This Is Revenue’S Appeal & Assessee’S Cross Objection Against The Order Of The Ld. Cit(A)-Ii, Kanpur, Dated 1/12/2017, For The Assessment Year 2013-14. 2. The Revenue Has Taken The Following Grounds Of Appeal: 1. The Ld. Commissioner Of Income Tax (Appeals)-Ii, Kanpur Has Erred In Law & On Facts In Deleting The Penalty Of Rs.22,00,000/- Imposed By The Assessing Officer On Account Of Undisclosed

…g out of the long term capital gain voluntarily under section 139(1) of the Act, but only when the show cause notice was served upon her. The ld. D.R. has also placed reliance upon the Hon'ble Madras High Court in the case of ‘Sundaram Finance Ltd. vs. ACIT’, 403 ITR 407 (Madras), with the submission that any defect in notice will not cause any prejudice to the assessee and the assessee clearly understood what was the purport and import of notice issued under section 274 read with section 271 of the Act. He, therefore, prayed that the order of the ld. CIT(A) may be set aside and that the of the Assessing Officer…