RAJESH SHARMA,THEOG vs. ITO, W-2, SHIMLA

In the result, the appeal of the assessee is allowed

Bench: Shri N.K. Sainiआयकर अपील सं./ Ita No.1438/Chd/2018 "नधा"रण वष" / Assessment Year : 2014-15

vii)(b)(ii) of the Act. The A.O. held that assessee failed to disclose difference of stamp duty value and purchase consideration of land for taxation. Accordingly, the A.O. imposed penalty of Rs. 1,23,600/- u/s 271(1)(c) of the Act. 5. Being aggrieved, the assessee carried the matter before the CIT(A) and submitted as under