SMT B SUMATHY,BANGALORE vs. THE INCOME TAX OFFICER WARD-1(2)(2), BANGALORE
In the result, the assessee’s appeal for Assessment Year 2005-06 is allowed as indicated above
ITA 1777/BANG/2018[2005-06]Status: DisposedITAT Bangalore16 Apr 2019AY 2005-06
Bench: Shri N. V. Vasudevan & Shri Jason P Boazassessment Year : 2005-06 Smt. B. Sumathy, Vs. The Income Tax Officer, #T-401, Poorva Park, Ward – 1(2), Now Jeevana Halli Main Road, Ito, Ward – 1[2][2], Cox Town, Bangalore-560 005. Bangalore. Pan : Aseps 7079 K Appellant Respondent Assessee By : Shri. Narendra Sharma, Advocate Revenue By : Shri. T. Chandrasekhar, Addl. Cit Date Of Hearing : 27.03.2019 Date Of Pronouncement : 16.04.2019
For Appellant: Shri. Narendra Sharma, AdvocateFor Respondent: Shri. T. Chandrasekhar, Addl. CIT
Section 271Section 271(1)(c)
41,427/- on account of re-computation of capital gains by virtue of denying the assessee’s claim for exemption under section 54F of the Act.
3.2
Penalty proceedings under section 271(1)(c) of the Act was initiated simultaneously vide notice under section 274 r.w.s. 271(1)(c) of the Act of even date viz., 26.03.2007 in respect
