KANAKALATA MALLICK,B-FIFTY FIVE,SECTOR-EIGHT vs. JCIT, CUTTACK

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अऩीऱ सं/Ita No.363/Ctk/2023 (ननधाारण वषा / Assessment Year : 2018-2019) Kanaklata Mallick, Vs Jcit, Cuttack B-Fifty Five, Sector-Eight, Cda, Odisha-753014 Pan No. :Acspm 3665 K (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri Natabar Panda, Advocate राजस्व की ओर से /Revenue By : Shri S.C.Mohanty, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 10/07/2024 घोषणा की तारीख/Date Of Pronouncement : 10/07/2024 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Dated 20.09.2023, In Din & Order No.Itba/Nfac/S/250/2023- 24/1056301242(1) For The Assessment Year 2018-2019. 2. The Only Issue In This Appeal Is In Regard To The Confirmation Of Penalty Levied U/S.271Da Of The Act For Violation Of The Provisions Of Section 269St Of The Act. Ld. Jcit Has Initiated The Penalty Proceedings U/S.271Da Of The Act By Issuing A Show Cause Notice Dated 01.10.2021 & Thereafter Levied The Penalty Of Rs.5,00,000/- Vide Impugned Order Dated 27.04.2022. In First Appeal, The Ld. Cit(A) Has Confirmed The Said Penalty, Therefore, The Assessee Is Before Us In The Present Appeal. 3. During The Course Of Arguments, Ld. Ar Of The Assessee Submitted That The Assessee Had Received More Than 90% Of The Consideration