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2 results for “bogus purchases”+ Section 54Fclear

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Section 54F11 Section 271(1)(c)9 Section 2742 Capital Gains2 Exemption2 Penalty2

DCIT, CIRCLE 22(2), NEW DELHI, NEW DELHI vs. SAHIL VACHANI, DELHI

Appeal of the Revenue stands dismissed

ITA 2604/DEL/2023[2016-17]Status: DisposedITAT Delhi23 Jun 2025AY 2016-17

Bench: Shri Mahavir Singh, Vice Presdient (), Shri Vikas Awasthy& Shriavdhesh Kumar Mishraआअसं.2604/िद"ी/2023(िन.व. 2016-17)

For Appellant: S/Shri Anuj Garg & Narpat Singh, Sr.DRFor Respondent: S/Shri Rohan Khare & Priyam

Section 271(1)(c)Section 54F

bogus claim, levy of penalty u/s 271(1)(c) read with Explanation 1 is justified. 19. I find that while imposing penalty under section 271(1)(c) of the Act, the AO did not categorically mention the Explanation 1 to section 271(1)(c) of the Act though he mentioned that the explanation offered by the assessee was not found

AMAR NATH TYAGI,GHAZIABAD vs. DCIT, CIRCLE-1, GHAZIABAD

In the result, the appeal filed by the Assessee is allowed