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47 results for “penalty u/s 271”+ Set Off of Lossesclear

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Key Topics

Section 14764Addition to Income46Section 143(3)32Section 250(6)29Section 14826Section 69A23Section 80I20Section 25015Disallowance

SHRI SANTOKH SINGH ,AMRITSAR vs. INCOME TAX OFFICER WARD - 2 (1), AMRITSAR

The appeals of the assessees are disposed of in the terms indicated as above

ITA 32/ASR/2023[2014-15]Status: DisposedITAT Amritsar30 May 2023AY 2014-15

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 139(1)Section 144Section 147Section 151Section 250(6)Section 271(1)(b)

271(1)(b) of the Act for noncompliance of notices. 4. At the outset, the Ld. counsel for the appellant submitted that the Ld. CIT(A) has erred in law and on facts in confirming the addition of Rs. 10,95,406/- in each appeal on account of excess NP @ 5% on estimating turn over comprising of cash deposited

SHRI SANTOKH SINGH ,AMRITSAR vs. INCOME TAX OFFICER WARD - 2 (1), AMRITSAR

Showing 1–20 of 47 · Page 1 of 3

14
Section 28213
Deduction12
Depreciation11

The appeals of the assessees are disposed of in the terms indicated as above

ITA 34/ASR/2023[2015-16]Status: DisposedITAT Amritsar30 May 2023AY 2015-16

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 139(1)Section 144Section 147Section 151Section 250(6)Section 271(1)(b)

271(1)(b) of the Act for noncompliance of notices. 4. At the outset, the Ld. counsel for the appellant submitted that the Ld. CIT(A) has erred in law and on facts in confirming the addition of Rs. 10,95,406/- in each appeal on account of excess NP @ 5% on estimating turn over comprising of cash deposited

SHRI SANTOKH SINGH ,AMRITSAR vs. INCOME TAX OFFICER WARD- 2 (1), AMRITSAR

The appeals of the assessees are disposed of in the terms indicated as above

ITA 33/ASR/2023[2015-16]Status: DisposedITAT Amritsar30 May 2023AY 2015-16

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 139(1)Section 144Section 147Section 151Section 250(6)Section 271(1)(b)

271(1)(b) of the Act for noncompliance of notices. 4. At the outset, the Ld. counsel for the appellant submitted that the Ld. CIT(A) has erred in law and on facts in confirming the addition of Rs. 10,95,406/- in each appeal on account of excess NP @ 5% on estimating turn over comprising of cash deposited

SHRI SANTOKH SINGH ,AMRITSAR vs. INCOME TAX OFFICER WARD -2 (1), AMRITSAR

The appeals of the assessees are disposed of in the terms indicated as above

ITA 31/ASR/2023[2014-15]Status: DisposedITAT Amritsar30 May 2023AY 2014-15

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 139(1)Section 144Section 147Section 151Section 250(6)Section 271(1)(b)

271(1)(b) of the Act for noncompliance of notices. 4. At the outset, the Ld. counsel for the appellant submitted that the Ld. CIT(A) has erred in law and on facts in confirming the addition of Rs. 10,95,406/- in each appeal on account of excess NP @ 5% on estimating turn over comprising of cash deposited

SH. ARASHPREET SINGH. S/O.LATE.SH. GURMAIL SINGH,MUKTSAR vs. DY. COMMISSIONER OF INCOME TAX .CIRCLE-II, BATHINDA

Appeals are disposed of in the terms and observation made as above

ITA 64/ASR/2019[2014-15]Status: DisposedITAT Amritsar25 May 2023AY 2014-15

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. S. R. Kaushik, CIT-DR
Section 147Section 148Section 151(2)Section 250(6)Section 282Section 69A

loss under the head capital gains which, in the opinion of Ld. AO, was assessable under the head business income. However, the basic condition viz. furnishing of inaccurate particulars / concealment of particulars of income so as to attract the provisions of Section 271(l)(c) have remained unfulfilled in the present case. Therefore, penalty was not justified and the stand

LATE. SH. GURMAIL SINGH S/O. SH. LAL SINGH,SRI MUKATSAR vs. DY.COMMISSIONER OF INCOME TAX CIRCLE -II, BATHINDA

Appeals are disposed of in the terms and observation made as above

ITA 59/ASR/2019[2014-15]Status: DisposedITAT Amritsar25 May 2023AY 2014-15

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. S. R. Kaushik, CIT-DR
Section 147Section 148Section 151(2)Section 250(6)Section 282Section 69A

loss under the head capital gains which, in the opinion of Ld. AO, was assessable under the head business income. However, the basic condition viz. furnishing of inaccurate particulars / concealment of particulars of income so as to attract the provisions of Section 271(l)(c) have remained unfulfilled in the present case. Therefore, penalty was not justified and the stand

LATE. SH. GURMAIL SINGH.S/O. LATE SH. LAL SINGH,SRI MUKTSAR vs. DY. COMMISSIONER OF INCOME TAX CIRCLE -II, BATHINDA

Appeals are disposed of in the terms and observation made as above

ITA 57/ASR/2019[2012-13]Status: DisposedITAT Amritsar25 May 2023AY 2012-13

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. S. R. Kaushik, CIT-DR
Section 147Section 148Section 151(2)Section 250(6)Section 282Section 69A

loss under the head capital gains which, in the opinion of Ld. AO, was assessable under the head business income. However, the basic condition viz. furnishing of inaccurate particulars / concealment of particulars of income so as to attract the provisions of Section 271(l)(c) have remained unfulfilled in the present case. Therefore, penalty was not justified and the stand

SH. ARASHPREET SINGH S/O LATE SH. GURMAIL SINGH,SHRI MUKATSAR vs. DY. COMMISSIONER OF INCOME TAX CIRCLE-II, BATHINDA

Appeals are disposed of in the terms and observation made as above

ITA 60/ASR/2019[2010-11]Status: DisposedITAT Amritsar25 May 2023AY 2010-11

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. S. R. Kaushik, CIT-DR
Section 147Section 148Section 151(2)Section 250(6)Section 282Section 69A

loss under the head capital gains which, in the opinion of Ld. AO, was assessable under the head business income. However, the basic condition viz. furnishing of inaccurate particulars / concealment of particulars of income so as to attract the provisions of Section 271(l)(c) have remained unfulfilled in the present case. Therefore, penalty was not justified and the stand

LATE. SH. GURMAIL. SINGH S/O. SH. LAL SINGH,SHRI MUKAT SAR vs. DY. COMMISSIONER OF 9INCOME TAX. CIRCLE -II, BATHINDA

Appeals are disposed of in the terms and observation made as above

ITA 56/ASR/2019[2011-12]Status: DisposedITAT Amritsar25 May 2023AY 2011-12

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. S. R. Kaushik, CIT-DR
Section 147Section 148Section 151(2)Section 250(6)Section 282Section 69A

loss under the head capital gains which, in the opinion of Ld. AO, was assessable under the head business income. However, the basic condition viz. furnishing of inaccurate particulars / concealment of particulars of income so as to attract the provisions of Section 271(l)(c) have remained unfulfilled in the present case. Therefore, penalty was not justified and the stand

LATE. SH. GURMAIL. SINGH. S/O. SH. LAL SINGH,SRI MUKATSAR vs. DY.COMMISSIONER OF INCOME TAX CIRCLE -II, BATHINDA

Appeals are disposed of in the terms and observation made as above

ITA 58/ASR/2019[2013-14]Status: DisposedITAT Amritsar25 May 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. S. R. Kaushik, CIT-DR
Section 147Section 148Section 151(2)Section 250(6)Section 282Section 69A

loss under the head capital gains which, in the opinion of Ld. AO, was assessable under the head business income. However, the basic condition viz. furnishing of inaccurate particulars / concealment of particulars of income so as to attract the provisions of Section 271(l)(c) have remained unfulfilled in the present case. Therefore, penalty was not justified and the stand

LATE. SH. GUMAIL SINGH . S/O. SH. LAL SINGH,MUKTSAR vs. DY. COMMISSIONER OF INCOME TAX CIRCLE -II, BATHINDA

Appeals are disposed of in the terms and observation made as above

ITA 55/ASR/2019[2010-11]Status: DisposedITAT Amritsar25 May 2023AY 2010-11

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. S. R. Kaushik, CIT-DR
Section 147Section 148Section 151(2)Section 250(6)Section 282Section 69A

loss under the head capital gains which, in the opinion of Ld. AO, was assessable under the head business income. However, the basic condition viz. furnishing of inaccurate particulars / concealment of particulars of income so as to attract the provisions of Section 271(l)(c) have remained unfulfilled in the present case. Therefore, penalty was not justified and the stand

SH. ARASHPREET SINGH S/O. LATE SH. GURMAIL SINGH,MUKTSAR vs. DY. COMMISSIONER OF INCOME TAX CERCLE- II, BATHINDA

Appeals are disposed of in the terms and observation made as above

ITA 62/ASR/2019[2012-13]Status: DisposedITAT Amritsar25 May 2023AY 2012-13

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. S. R. Kaushik, CIT-DR
Section 147Section 148Section 151(2)Section 250(6)Section 282Section 69A

loss under the head capital gains which, in the opinion of Ld. AO, was assessable under the head business income. However, the basic condition viz. furnishing of inaccurate particulars / concealment of particulars of income so as to attract the provisions of Section 271(l)(c) have remained unfulfilled in the present case. Therefore, penalty was not justified and the stand

SH. ARASHPREET SINGH S/O. LATE SH. GURMAIL SINGH,MUKTSAR vs. DY. COMMISSIONER OF INCOME TAX CIRCLE-II, BATHINDA

Appeals are disposed of in the terms and observation made as above

ITA 63/ASR/2019[2013-14]Status: DisposedITAT Amritsar25 May 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. S. R. Kaushik, CIT-DR
Section 147Section 148Section 151(2)Section 250(6)Section 282Section 69A

loss under the head capital gains which, in the opinion of Ld. AO, was assessable under the head business income. However, the basic condition viz. furnishing of inaccurate particulars / concealment of particulars of income so as to attract the provisions of Section 271(l)(c) have remained unfulfilled in the present case. Therefore, penalty was not justified and the stand

SH. ARSPREET SINGH . S/O. LATE. SH. GURMAIL SINGH ,MUKTSAR vs. DY. COMMISSIONER OF INCOME TAX CIRCLE .II, BATHINDA

Appeals are disposed of in the terms and observation made as above

ITA 61/ASR/2019[2011-12]Status: DisposedITAT Amritsar25 May 2023AY 2011-12

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. S. R. Kaushik, CIT-DR
Section 147Section 148Section 151(2)Section 250(6)Section 282Section 69A

loss under the head capital gains which, in the opinion of Ld. AO, was assessable under the head business income. However, the basic condition viz. furnishing of inaccurate particulars / concealment of particulars of income so as to attract the provisions of Section 271(l)(c) have remained unfulfilled in the present case. Therefore, penalty was not justified and the stand

SHRI BALBIR SINGH M/S JAIDEEP GIFT CENTRE TAPTEJ SINGH MARKET,MOGA vs. ADDITIONAL COMMISSIONER OF INCOME TAX MOGA RANGE MOGA, MOGA

In the result, both the appeals filed by the assessee are allowed for

ITA 746/ASR/2017[2011-12]Status: DisposedITAT Amritsar18 Jul 2023AY 2011-12

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. P. N. Arora, AdvFor Respondent: Sh. Radhey Shyam Jaiswal, Sr. DR
Section 143(3)Section 269SSection 269TSection 27Section 271D

loss to revenue and there is no malafied intention of the assessee in doing so. 3.2 At the time of appellate proceeding notice for hearing was issued on 21.10.2015 fixing the case for hearing on 04.11.2015. The notice was issued at the address of Sh. Balbir Singh M/s Jaideep Gift Centre, Taptej Singh Market, Moga. In response to this notice

SHRI BALBIR SINGH M/S JAIDEEP GIFT CENTRE, TAPTEJ SINGH MARKET ,MOGA vs. ADDITIONAL COMMISSIONER OF INCOME TAX MOGA RANGE , MOGA

In the result, both the appeals filed by the assessee are allowed for

ITA 745/ASR/2017[2011-12]Status: DisposedITAT Amritsar18 Jul 2023AY 2011-12

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. P. N. Arora, AdvFor Respondent: Sh. Radhey Shyam Jaiswal, Sr. DR
Section 143(3)Section 269SSection 269TSection 27Section 271D

loss to revenue and there is no malafied intention of the assessee in doing so. 3.2 At the time of appellate proceeding notice for hearing was issued on 21.10.2015 fixing the case for hearing on 04.11.2015. The notice was issued at the address of Sh. Balbir Singh M/s Jaideep Gift Centre, Taptej Singh Market, Moga. In response to this notice

MEASEG. SURINDER SAT AGRO FOODS ,JALALABAD vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-II, BATHINDA

In the result, the three appeals of the assessee are allowed for

ITA 304/ASR/2019[2013-14]Status: DisposedITAT Amritsar30 Oct 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Ashwani Kalia, CAFor Respondent: Sh. Rajiv Wadhera, Sr. DR
Section 143(3)Section 145(3)Section 147Section 148Section 151Section 271(1)(c)Section 282

penalty imposed by the AO u/s 271(1)(c) of the Act on the tax sought to be evaded on the addition of Rs. 20,00,000/- which was estimated by the AO as alleged initial investment trading in paddy, rice and their bye-products without rebutting the contentions of the assessee raised during the course of assessment as well

MEASAGE. SURINDER SAT AGRO FOODS,JALALABAD vs. DEPUTY COMMISSIONER OF INCOME TAX-CIRCLE-II, BATHINDA

In the result, the three appeals of the assessee are allowed for

ITA 303/ASR/2019[2010-11]Status: DisposedITAT Amritsar30 Oct 2023AY 2010-11

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Ashwani Kalia, CAFor Respondent: Sh. Rajiv Wadhera, Sr. DR
Section 143(3)Section 145(3)Section 147Section 148Section 151Section 271(1)(c)Section 282

penalty imposed by the AO u/s 271(1)(c) of the Act on the tax sought to be evaded on the addition of Rs. 20,00,000/- which was estimated by the AO as alleged initial investment trading in paddy, rice and their bye-products without rebutting the contentions of the assessee raised during the course of assessment as well

M/S SURINDER SAT AGRO FOODS ,JALALABAD vs. THE ASSTT. COMMISSIONER OF INCOME TAX, BATHINDA

In the result, the three appeals of the assessee are allowed for

ITA 214/ASR/2017[2013-14]Status: DisposedITAT Amritsar30 Oct 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Ashwani Kalia, CAFor Respondent: Sh. Rajiv Wadhera, Sr. DR
Section 143(3)Section 145(3)Section 147Section 148Section 151Section 271(1)(c)Section 282

penalty imposed by the AO u/s 271(1)(c) of the Act on the tax sought to be evaded on the addition of Rs. 20,00,000/- which was estimated by the AO as alleged initial investment trading in paddy, rice and their bye-products without rebutting the contentions of the assessee raised during the course of assessment as well

MILLENNIUM REAL ESTATE DEVELOPERS PVT. LTD,JALANDHAR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeal filed by the assessee is allowed for statistical

ITA 653/ASR/2016[2012-13]Status: DisposedITAT Amritsar13 Sept 2023AY 2012-13

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: None (Written submission)For Respondent: Sh. Hitendra Bhauraoji Ninawe, CIT DR
Section 132(1)Section 132(4)Section 14Section 14ASection 56Section 69Section 69ASection 71

Penalty proceedings u/s 271 AAA of the Act. 4. In appeal, CIT appeal has confirmed the addition by observing as under: 3.1 Grounds of Appeal Nos. 1 & 2 pertain to assessment of surrendered income of Rs. 1.16 Crores as assessable u/s 69A and not allowing the set-off of the business loss