SOM NATH VIRMANI AND SONS HUF,HARYANA vs. INCOME TAX OFFICER WARD-4(1), GURGAON, HARYANA
In the result, the appeal of the Assessee is allowed
ITA 5081/DEL/2024[2015-16]Status: DisposedITAT Delhi20 May 2025AY 2015-16
Bench: Shri Vikas Awasthy & Shri M. Balaganeshm/S. Som Nath Virmani & Vs. Income Tax Officer, Sons Huf, Ward-5(1), Flat No. 303, Soverign 1, Gurgaon Vatika City, Sector-49, Sohna Road, Gurgaon-122001 Haryana (Appellant) (Respondent) Pan: Aanhs1927F Assessee By : Dr. Rakesh Gupta, Adv Shri Somit Aggarwal, Adv Revenue By: Shri Manish Gupta, Sr. Dr Date Of Hearing 20/05/2025 Date Of Pronouncement 20/05/2025
For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri Manish Gupta, Sr. DR
Section 144BSection 147Section 148Section 271(1)Section 271(1)(c)
144B of the Act determining total income at Rs
72,16,330/-. Penalty proceedings under section 271(1)(c ) of the Act were initiated for concealment of income vide notice dated 26-03-2022, which culminated in the levy of penalty in the sum of Rs 15,63,281/-. The Assessee pleaded that he had remitted the entire taxes that
