Search: penalty u/s 271

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Section 271(1)(c)3

GOURI SHANKAR CHAGANAM ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-11(1), HYDERABAD

In the result, appeal of the assessee is allowed for statistical purposes

ITA 515/HYD/2019[2014-15]Status: DisposedITAT Hyderabad25 Aug 2020AY 2014-15

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony(Through Virtual Hearing) Assessment Year:2014-15

For Appellant: Sri A.V. Raghu RamFor Respondent: Sri Nilanjan Dey, DR

Section 143(1)Section 244ASection 271(1)(c)

U/s. 244A of the Act which was omitted to be disclosed by the assessee in the return of income and thereby failed to offer it for tax. Subsequently, the Ld. AO invoked the provisions of section 271(1)(c) of the Act and levied minimum penalty