M/S. INFOBELLS INFERACTIVE SOLUTIONS,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4(3)(1), BENGALURU
In the result, the appeal filed by the assessee is allowed
ITA 411/BANG/2021[2018-19]Status: DisposedITAT Bangalore03 Nov 2021AY 2018-19
Bench: Shri George George K & Shri Chandra Poojariassessment Year : 2018-19 M/S. Infobells Interactive Solutions, The Deputy Commissioner Of Income Tax, No.12, 2Nd Floor, 8Th V Block, Circle – 4(3)(1), K R Nanjappa Layout, Vs. Bengaluru. Koramangala, Bengaluru – 560 095. Pan : Aacfi 7614 Q Appellant Respondent Assessee By : Shri. S. V. Ravishankar, Advocate Revenue By : Shri. Sankar Ganesh K, Jcit(Dr)(Itat), Bengaluru Date Of Hearing : 03.11.2021 Date Of Pronouncement : 03.11.2021
For Appellant: Shri. S. V. Ravishankar, AdvocateFor Respondent: Shri. Sankar Ganesh K, JCIT(DR)(ITAT), Bengaluru
Section 139(1)Section 143Section 143(1)Section 234ASection 36Section 43B
penalty under section 271(1)(c) of the Act could be imposed even in the case of assessment where the income is determined at loss. Learned AR strongly relied on the larger Bench judgment of the Hon’ble Apex Court in the case of CIT Vs. Vatika Township Pvt. Ltd., reported in 367 ITR 466 wherein it was held that