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29 results for “penalty u/s 271”+ Unexplained Investmentclear

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Key Topics

Section 14773Section 14853Section 271(1)(c)33Addition to Income29Section 69A26Section 28213Penalty13Survey u/s 133A11Section 250(6)

SHRI PARDEEP KUMAR,AMRITSAR vs. INCOME TAX OFFICER WARD 3(3), AMRITSAR

The appeal of the assessee is allowed in terms of our aforesaid observations

ITA 734/ASR/2017[2004-05]Status: DisposedITAT Amritsar05 Feb 2020AY 2004-05

Bench: Shri L.P Sahu & Shri Ravish Sood

For Appellant: Shri Milkhi Ram on behalf of Sh. Padam Bahl C.AFor Respondent: Shri Charan Dass, D.R
Section 143(1)Section 143(2)Section 143(3)Section 271Section 271(1)(c)Section 274

Unexplained investment’ in the hands of the assessee. Also, an addition of perquisite of rent free accommodation of Rs. 16,745/- was made in the hands of the assessee. The A.O while framing the assessment also initiated penalty proceedings u/s 271

Showing 1–20 of 29 · Page 1 of 2

10
Section 151(2)10
Section 143(3)9
Cash Deposit9

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

unexplained investment being either made in the properties were out of books of accounts or other tangible or intangible Assets. In view of that matter we are of the considered opinion that the ld. CIT(A) did not appreciate the facts on record and he was not furnished in confirming the addition. Late Sh. Gurmail Singh

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

unexplained investment being either made in the properties were out of books of accounts or other tangible or intangible Assets. In view of that matter we are of the considered opinion that the ld. CIT(A) did not appreciate the facts on record and he was not furnished in confirming the addition. Late Sh. Gurmail Singh

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

unexplained investment being either made in the properties were out of books of accounts or other tangible or intangible Assets. In view of that matter we are of the considered opinion that the ld. CIT(A) did not appreciate the facts on record and he was not furnished in confirming the addition. Late Sh. Gurmail Singh

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

unexplained investment being either made in the properties were out of books of accounts or other tangible or intangible Assets. In view of that matter we are of the considered opinion that the ld. CIT(A) did not appreciate the facts on record and he was not furnished in confirming the addition. Late Sh. Gurmail Singh

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

unexplained investment being either made in the properties were out of books of accounts or other tangible or intangible Assets. In view of that matter we are of the considered opinion that the ld. CIT(A) did not appreciate the facts on record and he was not furnished in confirming the addition. Late Sh. Gurmail Singh

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

unexplained investment being either made in the properties were out of books of accounts or other tangible or intangible Assets. In view of that matter we are of the considered opinion that the ld. CIT(A) did not appreciate the facts on record and he was not furnished in confirming the addition. Late Sh. Gurmail Singh

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

unexplained investment being either made in the properties were out of books of accounts or other tangible or intangible Assets. In view of that matter we are of the considered opinion that the ld. CIT(A) did not appreciate the facts on record and he was not furnished in confirming the addition. Late Sh. Gurmail Singh

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

unexplained investment being either made in the properties were out of books of accounts or other tangible or intangible Assets. In view of that matter we are of the considered opinion that the ld. CIT(A) did not appreciate the facts on record and he was not furnished in confirming the addition. Late Sh. Gurmail Singh

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

unexplained investment being either made in the properties were out of books of accounts or other tangible or intangible Assets. In view of that matter we are of the considered opinion that the ld. CIT(A) did not appreciate the facts on record and he was not furnished in confirming the addition. Late Sh. Gurmail Singh

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

unexplained investment being either made in the properties were out of books of accounts or other tangible or intangible Assets. In view of that matter we are of the considered opinion that the ld. CIT(A) did not appreciate the facts on record and he was not furnished in confirming the addition. Late Sh. Gurmail Singh

SHRI H.K. GANDOTRA,GURGAON vs. THE INOCME-TAX OFFICER, JAMMU

In the result, the assessee’s appeal is dismissed

ITA 594/ASR/2014[1997-98]Status: DisposedITAT Amritsar27 Jun 2019AY 1997-98

Bench: Sh. Sanjay Arorai.T.A. No. 594/Asr/2014 Assessment Year: 1997-98

For Appellant: Sh. P. N. Arora (Adv.)For Respondent: Sh. Charan Dass (D.R.)
Section 143(3)Section 246Section 271(1)(c)Section 275

investment, i.e., to the extent of Rs.10.20 lacs, as well as the expenditure incurred on the marriage of his daughter, and the concomitant deeming thereof as his income by way of unexplained investment/expenditure, being not returned, penalty u/s. 271

JAMMU & KASHMIR STATE AGRO INDUSTRIES DEVELOPMENT CORPORATION LIMITED,SRINAGAR vs. INCOME TAX OFFICER WARD-II, SRINAGAR

In the result, the appeal of the assessee ITA No

ITA 249/ASR/2023[2012-13]Status: HeardITAT Amritsar20 Sept 2023AY 2012-13

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.249/Asr/2023 Assessment Year: 2012-13

Section 143(3)Section 250Section 271Section 271(1)Section 271(1)(c)Section 274

penalty u/s 271 (1)( c) of the Income Tax Act 1961, by treating sundry creditors of Rs.331,90,534.00 as unexplained investment

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

SHRI GURBACHAN SINGH S/O SHRI.GURDEV SINGH ,MANSA vs. INCOME TAX OFFICER WARD- 1 (4 ), MANSA

In the result, the quantum appeal in ITA No

ITA 198/ASR/2022[2011-12]Status: DisposedITAT Amritsar31 Jan 2023AY 2011-12

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

Section 144Section 147Section 148Section 271Section 271(1)(c)Section 69A

271 (1)(c) is otherwise not sustainable as no specific charge as to whether the penalty have been levied for concealment of income or for furnishing inaccurate particulars of income have been established. 5. That the appellant craves leave to add, amend, alter, any ground of grounds of appeal during the course of hearing.” 3. The assessee has raised

SHRI GURBACHAN SINGH S/O SH. GURDEV SINGH,MANSA vs. INCOME TAX OFFICER WARD - 1 (4), MANSA

In the result, the quantum appeal in ITA No

ITA 197/ASR/2022[2011-12]Status: DisposedITAT Amritsar31 Jan 2023AY 2011-12

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

Section 144Section 147Section 148Section 271Section 271(1)(c)Section 69A

271 (1)(c) is otherwise not sustainable as no specific charge as to whether the penalty have been levied for concealment of income or for furnishing inaccurate particulars of income have been established. 5. That the appellant craves leave to add, amend, alter, any ground of grounds of appeal during the course of hearing.” 3. The assessee has raised

SH. MANINDER SINGH PROP. M/S DASHMESH BRICKS,BATHINDA vs. THE INCOME-TAX OFFICER, BATHINDA

In the result, the assessee’s appeal is dismissed

ITA 440/ASR/2017[2011-12]Status: DisposedITAT Amritsar28 Dec 2018AY 2011-12

Bench: Sh. Sanjay Arorai.T.A No.440/Asr/2017 Assessment Year:2011-12

For Appellant: Written SubmissionsFor Respondent: Sh. Charan Dass (D.R)
Section 268ASection 271(1)(c)Section 69A

unexplained, allowed the assessee telescoping benefit, reducing the said income to Rs.12.66 lacs, on which the AO, accordingly, levied penalty u/s. 271(1)(c) of the Act for concealment of particulars of income at 100% of the tax sought to be evaded. The same being confirmed in first appeal, the assessee is in second appeal. 3 Maninder Singh, Bathinda

SHRI JASHANDEEP SINGH SIDHU,BATHINDA vs. INCOME TAX OFFICER WARD- 1 (3), BATHINDA

In the result, the appeal of the assessee bearing ITA No

ITA 11/ASR/2023[2010-11]Status: HeardITAT Amritsar20 Sept 2023AY 2010-11

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

Section 144Section 144aSection 147Section 148Section 151Section 250Section 68

unexplained. In the present case, the assessee is not shown to have made any “investment” and, therefore, the provisions of section 69 of the Act are entirely inapplicable.” 6. The ld. DR vehemently argued and relied on the order of the revenue authorities. Ground No. 7 7. In this ground no. 7, the ld. AR for the assessee specifically mentioned