GEORGE KUTTY,NEW DELHI vs. DCIT, CIRCLE-13(1), NEW DELHI
In the result, the appeal of the assessee is allowed
ITA 3788/DEL/2019[2010-11]Status: DisposedITAT Delhi24 Aug 2022AY 2010-11
Bench: Shri Kul Bharat[Assessment Year : 2010-11] George Kutty, Vs Dcit, C/O-M/S. Oasis Tours India (P.) Circle-13(1), Ltd., C-40, Middle Circle, Dwarka New Delhi. Sadan, Connaught Place, New Delhi-110001. Pan-Aajpk4005H Appellant Respondent Appellant By Shri Manish Malik, Adv. Respondent By Shri Om Parkash, Sr.Dr Date Of Hearing 11.08.2022 Date Of Pronouncement 24.08.2022
Section 143(3)Section 271Section 271(1)(c)Section 274Section 276CSection 68
house property, and thus the AO brought to tax LTCG and also levied penalty u/s 271(1)(c) ; Notes that CIT(A) had deleted the penalty by applying the ratio laid down by Karnataka HC in Manjunatha Cotton and Ginning Factory case; Further takes note of Bangalore ITAT ruling in case of P.M.Abdulla, wherein it was clarified that the said
