54 results for “penalty u/s 271”+ Section 92Bclear
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In the result, the appeals of the assessee are allowed
Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 6722/Del/2018 : Asstt. Year : 2014-15 Ita No. 4873/Del/2019 : Asstt. Year : 2014-15 Tapi Jwil Jv, Vs Income Tax Officer, C/O C. S. Anand, Adv., Ward-62(4), 104, Pankaj Tower, 10, L.S.C. New Delhi Savita Vihar, Delhi-110092 (Appellant) (Respondent) Pan No. Aadat3744J Assessee By : Sh. C. S. Anand, Adv. Revenue By : Sh. Amitabh K. Sinha, Cit-Dr Date Of Hearing: 18.07.2023 Date Of Pronouncement: 16.10.2023 Order Per Dr. B. R. R. Kumar:
92B of the Act with Rule 10 of the I.T. Rules, 1962. Hence, the AO invoked provisions of Section 271G and levied penalty @ 2% of the value of the transactions which the ld. CIT(A) confirmed. 12. Heard the arguments of both the parties and perused the material available on record. 13. It is an undisputable fact that during