THE ACIT, PANCHMAHAL CIRCLE,, GODHRA vs. MS. GRISHMABEN M. SOLANKI,, PANCHMAHAL
In the result, the appeal of the Revenue is treated as partly allowed for statistical purposes
ITA 2940/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad16 Feb 2022AY 2012-13
Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Years : 2012-13 Assistant Commissioner Of Ms. Grishmaben M. Solanki, Income-Tax, Vs Rajmahal Road, Devgarh Baria, Panchmahal Circle, Panchmahal, Gujarat-389380 Godhra Pan : Cyops 3860 E अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Revenue By : Shri C.S. Sharma, Sr. Dr Assessee By : None सुनवाई क" तार"ख/Date Of Hearing : 15/02/2022 घोषणा क" तार"ख /Date Of Pronouncement: 16/02/2022 आदेश / O R D E R Per P.M. Jagtap, Vice-: This Appeal Is Preferred By The Revenue Against The Order Of The Learned Commissioner Of Income-Tax (Appeals)-4, Vadodara (“Cit(A)” In Short) Dated 20.09.2017 Whereby He Cancelled The Penalty Of Rs.56,56,420/- Imposed By The Assessing Officer Under Section 271(1)(C) Of The Income-Tax Act, 1961 (“The Act” In Short).
For Appellant: NoneFor Respondent: Shri C.S. Sharma, Sr. DR
Section 143(3)Section 271(1)(c)Section 50C
3. The Ld. CIT(A) ought to have upheld the action of the Assessing Officer in levying penalty u/s 271(1)(c) on the disallowance made on account of difference in LTCG in view of the clear cut provisions of the Act that valuation of immovable property has to be done as per deeming provisions u/s
