PRADEEP KUMAR REDDY YELLAREDDYGARI,KURNOOL vs. INCOME TAX OFFICER, WARD-1, ADONI
In the result, appeal filed by the assessee is allowed
ITA 1419/HYD/2017[2011-12]Status: DisposedITAT Hyderabad17 May 2019AY 2011-12
Bench: Shri V. Durga Rao, Hon’Blepradeep Kumar Reddy Vs. Ito, Ward-1, Yellareddygari, No. 2-10, Adoni. Ramapuram Village, Thungabhadra Post, Mantralayam Mandal, Kurnool District. Pan No. Afbpy 3827 P (Appellant) (Respondent)
For Appellant: Shri S. Rama Rao– AdvFor Respondent: Mrs. Neeju Gupta – DR
Section 143(3)Section 271(1)(c)Section 274
43,041/- and initiated penalty proceedings u/s 271(1)(c). The fact is that long term capital gains for sale of the property have come to the notice of the assessing officer because of the efforts made by the department. Therefore, the AO has initiated the penalty proceedings u/s 271(1)(c) and issued show cause notice in the printed