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2 results for “capital gains”+ Section 271D(2)clear

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Key Topics

Section 269S11Section 271D8Penalty2

SOHAN LAL,KULLU vs. INCOME TAX OFFICER WARD KULLU, KULLU

The appeal stand allowed

ITA 1355/CHANDI/2025[2019-20]Status: DisposedITAT Chandigarh15 Apr 2026AY 2019-20
For Appellant: Sh. Parveen Sharma (Advocate) – Ld. AR (Virtual)For Respondent: Dr. Ranjit Kaur (Addl. CIT) – Ld. Sr. DR
Section 147Section 269SSection 271DSection 274

2. The impugned penalty stem from the fact that the assessee was assessed u/s 147 on 12-03-2024. It transpired that the assessee and his brother sold immoveable property for Rs.16 Lacs. The assessee’s share therein was Rs.8 Lacs. The Ld. AO accepted Long Term Capital Gains as offered by the assessee and accepted the returned income. However

SURJIT KAUR ,PUNJAB vs. ITO WARD 3 , KHANNA, PUNJAB

ITA 1136/CHANDI/2025[2017-18]Status: DisposedITAT Chandigarh06 Jan 2026AY 2017-18

Bench: Tribunal.

For Appellant: Sh. Parikshit Aggarwal (CA) – Ld. ARFor Respondent: Dr. Ranjit Kaur (Addl. CIT) – Ld. Sr. DR
Section 269SSection 269TSection 271D

2. Pursuant to a reference as received from ITO, Ward-3, Khanna for initiation of penalty u/s 271D for violation of Sec.269SS, a show- cause notice was issued by Ld. Addl. CIT, Range-4, Ludhiana (AO) on 27-10-2021. It was stated therein that the assessee sold a plot during FY 2016-17 and received sale consideration of Rs.7.41