A2Z INFRA ENGINEERING LIMITED,GURGAON vs. DCIT CC-2 , FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

156 (M.P.)], it was held by the Hon'ble Madhya Pradesh High Court that penalty under section 271(1)(c) was not eligible in respect of disallowance of assessee's claim for set off of share trading loss by treating the same as speculative in nature as per Explanation to Section 73 on the basis of preliminary details furnished

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. DCIT- CENTRAL CIRCLE-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

156 (M.P.)], it was held by the Hon'ble Madhya Pradesh High Court that penalty under section 271(1)(c) was not eligible in respect of disallowance of assessee's claim for set off of share trading loss by treating the same as speculative in nature as per Explanation to Section 73 on the basis of preliminary details furnished

A2Z INFRA ENGINEERING LIMITED,GURGAON vs. CCIT- CENTRAL CIRCLE-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

156 (M.P.)], it was held by the Hon'ble Madhya Pradesh High Court that penalty under section 271(1)(c) was not eligible in respect of disallowance of assessee's claim for set off of share trading loss by treating the same as speculative in nature as per Explanation to Section 73 on the basis of preliminary details furnished

A2Z MAINTENANCE & ENGINEERING SERVICES LTD.,GURGAON vs. DCIT, CENTRAL CIRCLE-II, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

156 (M.P.)], it was held by the Hon'ble Madhya Pradesh High Court that penalty under section 271(1)(c) was not eligible in respect of disallowance of assessee's claim for set off of share trading loss by treating the same as speculative in nature as per Explanation to Section 73 on the basis of preliminary details furnished

DCIT CC-2 , FARIDABAD vs. A2Z MAINTENANCE AND ENGINEERING SERVICES LTD., GURGAON

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

156 (M.P.)], it was held by the Hon'ble Madhya Pradesh High Court that penalty under section 271(1)(c) was not eligible in respect of disallowance of assessee's claim for set off of share trading loss by treating the same as speculative in nature as per Explanation to Section 73 on the basis of preliminary details furnished

INFRA ENGINEERS LTD.,GURGAON vs. DCIT, CC-2, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

156 (M.P.)], it was held by the Hon'ble Madhya Pradesh High Court that penalty under section 271(1)(c) was not eligible in respect of disallowance of assessee's claim for set off of share trading loss by treating the same as speculative in nature as per Explanation to Section 73 on the basis of preliminary details furnished

ACIT, CIRCLE- 26(2), NEW DELHI vs. VODAFONE IDEA LTD. (EARLIER KNWON AS VODAFONE MOBILE SERVICES LTD.), NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 1999-2000 Vs. M/S. Vodafone West Ltd. Acit, Circle-26(2), (Thereafter Merged With New Delhi Vodafone Mobile Services Ltd.), C-48, Okhla Industrial Area, Phase-2, New Delhi Pan: Aaacf1190P (Appellant) (Respondent) With Assessment Year: 2007-08 Vs. M/S. Vodafone Idea Ltd. Acit, Circle-26(2), (Earlier Known As Vodafone New Delhi Mobile Services Ltd.), C-48, Okhla Industrial Area, Phase-2, New Delhi Pan: Aaacb2100P (Appellant) (Respondent) Assessee By Sh. Salil Kapoor, Adv. Sh. Anil Chachra, Adv. Ms. Ananya Kapoor, Adv. Department By Sh. Vijay B. Basanta, Cit(Dr) Date Of Hearing 06.03.2025 Date Of Pronouncement 21.03.2025 Order Per Satbeer Singh Godara, Jm These Revenue’S Appeals Ita No.7658/Del/2018 & 8079/Del/2018 For Assessment Years 1999-2000 & 2007-08

u/s 271(1)(c) had been deleted by observing that the assessee had declared and disclosed full and true material facts in the returns. Also, Hon'ble Supreme Court in case of Cement Marketing Company of India Ltd. vs. Asst. CST (124 ITR 15) also made an observation on similar lines in its judgment, stating that "where the assessee does

ACIT, CIRCLE-26(2), NEW DELHI vs. VODAFONE WEST LTD., (THEREAFTER MERGED WITH VODAFONE MOBILE SERVICES LTD.),, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 1999-2000 Vs. M/S. Vodafone West Ltd. Acit, Circle-26(2), (Thereafter Merged With New Delhi Vodafone Mobile Services Ltd.), C-48, Okhla Industrial Area, Phase-2, New Delhi Pan: Aaacf1190P (Appellant) (Respondent) With Assessment Year: 2007-08 Vs. M/S. Vodafone Idea Ltd. Acit, Circle-26(2), (Earlier Known As Vodafone New Delhi Mobile Services Ltd.), C-48, Okhla Industrial Area, Phase-2, New Delhi Pan: Aaacb2100P (Appellant) (Respondent) Assessee By Sh. Salil Kapoor, Adv. Sh. Anil Chachra, Adv. Ms. Ananya Kapoor, Adv. Department By Sh. Vijay B. Basanta, Cit(Dr) Date Of Hearing 06.03.2025 Date Of Pronouncement 21.03.2025 Order Per Satbeer Singh Godara, Jm These Revenue’S Appeals Ita No.7658/Del/2018 & 8079/Del/2018 For Assessment Years 1999-2000 & 2007-08

u/s 271(1)(c) had been deleted by observing that the assessee had declared and disclosed full and true material facts in the returns. Also, Hon'ble Supreme Court in case of Cement Marketing Company of India Ltd. vs. Asst. CST (124 ITR 15) also made an observation on similar lines in its judgment, stating that "where the assessee does

SANDEEP GUPTA,GHAZIABAD vs. PR, CIT, GHAZIABAD

In the result, the appeal of the assessee is allowed

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year: 2015-16 Sandeep Gupta, Vs. Pr. Cit 152, Chanderpuri, Ghaziabad Ghaziabad, Uttar Pradesh 201009 (Appellant) (Respondent)

section 80HHC (4C'), merely because assessing officer held that assessee’s claim was wrong, penalty for concealment of income could not be imposed”. (f) Hon’ble High Court of Bombay in the case of Director of Income Tax (IT)-I, Mumbai v. Administrator of the Estate of Late Mr, E.F. Dinshaw (35taxmann.com 95) (2013) has observed that penalty for concealment

PRATEEK GUPTA,GHAZIABAD vs. PR, CIT, GHAZIABAD

In the result, the appeal of the assessee is allowed

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year: 2015-16 Prateek Gupta, Vs. Pr. Cit 152, Chanderpuri, Ghaziabad Ghaziabad, Uttar Pradesh 201001 Pan Atbpg8602J (Appellant) (Respondent)

section 80HHC (4C'), merely because assessing officer held that assessee’s claim was wrong, penalty for concealment of income could not be imposed”. 5 Hon’ble High Court of Bombay in the case of Director of Income (f) Tax (IT)-I, Mumbai v. Administrator of the Estate of Late Mr, E.F. Dinshaw (35taxmann.com 95) (2013) has observed that penalty

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

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

section 143(3). Further, as per Explanation 4(c), when the assessee has already paid self-assessment tax and nothing was outstanding, then penalty u/s 271(1)(c) is not leviable. He has referred to the computation of income and penalty by the AO as well as the demand u/s 156

JET LITE (INDIA) LTD.,MUMBAI vs. DCIT, CENTRAL CIRCLE-6 (NOW CC-1), MUMBAI

In the result, the appeal of the assessee is dismissed

Bench: Shri M. Balaganesh & Shri Anubhav Sharmajet Lite (India) Ltd, Vs. Dcit, 13, Community Central Circle-6, Centre, Yusuf Sarai, (Now Cc-1), New Delhi New Delhi (Appellant) (Respondent) Pan:Aadcs4480L

271(1)(c) of the IT Act under which the penalty is proposed to be levied/enhanced, and consequently the enhancement of penalty is bad in law. 10) Without prejudice to the above, on the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in issuing a penalty enhancement notice dated 28.06.2018 even

MEENA GUPTA,DELHI vs. ACIT CENTRAL CIRCLE-14,NEW DELHI, NEW DELHI

In the result, the appeal of the assessee in ITA No

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

156 [Delhi] had disapproved the levy of penalty holding as under: “We are unable to discern from a reading of the assessment order why the Assessing Officer chose to initiate penalty proceedings against the assessed and under which part of Section 271(1)(c) of the Act. In other words, we are unable to discern from the assessment order

DHANKOT FILLING STATION ,GURGAON vs. PR.CIT, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri C.M.Garg & Shri M. Balaganeshdhankot Filling Station, Vs. Pr. Cit, Sultanpur Road, Village Faridabad Dhankot, Gurgaon, Haryana- 122505 (Appellant) (Respondent) Pan: Aaefd7291A Assessee By : Sh. Sandeep Kumar, Ca Revenue By: Sh. T. James Singson, Cit Dr Date Of Hearing 20/04/2023 Date Of Pronouncement 24/04/2023

u/s 139(4) of I.T. Act? 2. Briefly stated, the facts necessary for adjudication of the instant appeal as narrated therein may be noticed. The assessee derives income from real estate business. On 11.12.2008, search and seizure operation under Section 132 of the Act was conducted at the premises of the assessee. Notice under Section 153A

DCIT, DELHI vs. AJAYVISION EDUCATION PRIVATE LIMITED, DELHI

In the result, all the appeals of the Revenue in ITA Nos

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

Section 271(1) (c) the penalty proceedings had been initiated under i.e. whether for concealment of particulars of inc me or for furnishing of inaccurate particulars of income. The Karnataka High Court had followed the above judgment in the subsequent order in Commissioner of Income Tax v. SSA's Emerald Meadows (2016) 73 Taxman.com 241 (Kar), the appeal against which

DCIT, DELHI vs. AJAYVISION EDUCATION PRIVATE LIMITED, DELHI

In the result, all the appeals of the Revenue in ITA Nos

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

Section 271(1) (c) the penalty proceedings had been initiated under i.e. whether for concealment of particulars of inc me or for furnishing of inaccurate particulars of income. The Karnataka High Court had followed the above judgment in the subsequent order in Commissioner of Income Tax v. SSA's Emerald Meadows (2016) 73 Taxman.com 241 (Kar), the appeal against which

DCIT, DELHI vs. AJAYVISION EDUCATION PRIVATE LIMITED, DELHI

In the result, all the appeals of the Revenue in ITA Nos

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

Section 271(1) (c) the penalty proceedings had been initiated under i.e. whether for concealment of particulars of inc me or for furnishing of inaccurate particulars of income. The Karnataka High Court had followed the above judgment in the subsequent order in Commissioner of Income Tax v. SSA's Emerald Meadows (2016) 73 Taxman.com 241 (Kar), the appeal against which

DCIT, DELHI vs. AJAYVISION EDUCATION PRIVATE LIMITED, DELHI

In the result, all the appeals of the Revenue in ITA Nos

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

Section 271(1) (c) the penalty proceedings had been initiated under i.e. whether for concealment of particulars of inc me or for furnishing of inaccurate particulars of income. The Karnataka High Court had followed the above judgment in the subsequent order in Commissioner of Income Tax v. SSA's Emerald Meadows (2016) 73 Taxman.com 241 (Kar), the appeal against which