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125 results for “penalty u/s 271”+ Capital Gainsclear

Sorted by relevance

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Key Topics

Section 271(1)(c)91Addition to Income71Section 143(3)54Penalty52Section 26340Section 14833Section 14731Disallowance27Section 271A

SRK DEV BUILD PVT LTD.,INDORE vs. DCIT/ACIT 5(1), INDORE

Appeal is allowed

ITA 471/IND/2023[2016-17]Status: DisposedITAT Indore20 Jun 2024AY 2016-17

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2016-17 Srk Dev Build Pvt. Ltd, Dcit/Acit-5(1) 18/2, Lasudia Mori, Indore बनाम/ A.B. Road, Vs. Indore (Assessee/Appellant) (Revenue/Respondent) Pan: Aaqcs3387P Assessee By Shri Pranay Goyal & S.N. Goyal, Cas Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 15.04.2024 Date Of Pronouncement 20.06.2024

Section 143(3)Section 271(1)(c)Section 274Section 32Section 32(1)Section 37Section 37(1)Section 40

271(1)(c), the pre-requisite condition for initiation of penalty is that there should concealment of income or furnishing inaccurate particulars of income. However, both the conditions are absent in this case, since whatever income was declared was accepted and assessee declared full details of short term capital gains in shares with each script, period of holding

Showing 1–20 of 125 · Page 1 of 7

24
Section 54B24
Section 50C23
Long Term Capital Gains18

THE DCIT, 1(1), BHOPAL vs. SMT. SUDESH CHAWLA, BHOPAL

In the result appeal of the assessee for Assessment Years

ITA 405/IND/2015[2006-07]Status: DisposedITAT Indore26 Nov 2020AY 2006-07

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradit(Ss)A Nos. 158 To 163/Ind/2015 Assessment Years 2000-01 To 2005-06 & Assessment Year-2006-07

Section 234ASection 234BSection 234CSection 271(1)(c)

271 (SC) Omar Salay Mohamed Sait Vs. CIT (1959) 371TR 151 (SC) Nai Dunia News &Network Pvt Ltd. 171TJ 289 Trib.lndore AO made adhoc disallowance for expenses holding that "some" vouchers were not verifiable. HELD, no specific defect is pointed out. 'A' has maintained proper books which has not been rejected. B. ACIT vs.Popular Art Palace

SMT. SARITA CHAWLA,BHOPAL vs. THE ACIT 1(2), BHOPAL

In the result appeal of the assessee for Assessment Years

ITA 442/IND/2015[2006-07]Status: DisposedITAT Indore26 Nov 2020AY 2006-07

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradit(Ss)A Nos. 158 To 163/Ind/2015 Assessment Years 2000-01 To 2005-06 & Assessment Year-2006-07

Section 234ASection 234BSection 234CSection 271(1)(c)

271 (SC) Omar Salay Mohamed Sait Vs. CIT (1959) 371TR 151 (SC) Nai Dunia News &Network Pvt Ltd. 171TJ 289 Trib.lndore AO made adhoc disallowance for expenses holding that "some" vouchers were not verifiable. HELD, no specific defect is pointed out. 'A' has maintained proper books which has not been rejected. B. ACIT vs.Popular Art Palace

LATE SMT. SUDESH CHAWLA L/H SHRI PREM CHAWLA,BHOPAL vs. THE ACIT 1(2), BHOPAL

In the result appeal of the assessee for Assessment Years

ITA 441/IND/2015[2006-07]Status: DisposedITAT Indore26 Nov 2020AY 2006-07

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradit(Ss)A Nos. 158 To 163/Ind/2015 Assessment Years 2000-01 To 2005-06 & Assessment Year-2006-07

Section 234ASection 234BSection 234CSection 271(1)(c)

271 (SC) Omar Salay Mohamed Sait Vs. CIT (1959) 371TR 151 (SC) Nai Dunia News &Network Pvt Ltd. 171TJ 289 Trib.lndore AO made adhoc disallowance for expenses holding that "some" vouchers were not verifiable. HELD, no specific defect is pointed out. 'A' has maintained proper books which has not been rejected. B. ACIT vs.Popular Art Palace

ASHRAF KHAN,INDORE vs. INCOME TAX OFFICER 2 (2), INDORE

In the result Ground No.1 & 2 of the assessee are allowed

ITA 535/IND/2018[2011-12]Status: DisposedITAT Indore14 Jun 2019AY 2011-12

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2011-12

Section 143(2)Section 271(1)(c)Section 274

Capital Gain of Rs.8,07,996/- in the original return of income. By issuing notice u/s 274 of the Act and after considering the submissions made by the assessee, levied penalty of Rs.1,66,500/- for furnishing inaccurate particulars and concealment of income. The instant appeal relates to the penalty levied u/s 271

DCIT, CIRCLE-5(1), BHOPAL, BHOPAL vs. M P STATE TOURISM DEVELOPMENT CORPORATION LIMITED, BHOPAL

Appeals are dismissed

ITA 772/IND/2024[2012-13]Status: DisposedITAT Indore26 Jun 2025AY 2012-13

Bench: Shri B.M. Biyani & Shri Paresh M. Joshi

Section 143(3)Section 271(1)(c)

capital expenditure. Therefore, penalty proceedings u/s 271(1)(c) are being initiated separately for furnishing inaccurate particulars of income.” Therefore, the penalty-order of AY 2012-13 is unsustainable for this very reason also that there is no satisfaction recorded by AO in assessment-order qua any default having been committed by assessee attracting penalty proceedings of section 271

THE ACIT, CIRCLE 2(1), INDORE vs. DR. SHRI RAJEEV CHAUDHARY, INDORE

In the result, the appeal of the revenue is allowed and cross objection of the assessee is partly allowed

ITA 293/IND/2012[2008-09]Status: DisposedITAT Indore10 Jan 2019AY 2008-09

Bench: Hon'Ble I Kul Bharat & Hon'Ble Manish Boradassessment Year 2008-09 Pan : Abkpc5729K Assistant Commissioner Of V/S Dr.Rajeev Choudhary Income Tax, 1, Shiv Vilas Palace Circle-2(1), Indore Indore

Section 147Section 14A

penalty u/s 271 (1 )(c ) is initiated. The above issue is also dealt by the Hon'ble ITAT, Mumbai in two recent cases and held as under :- (A) Sadhana Nabera vs. ACIT (ITAT Mumbai) dated 2510512010 Rajeev Choudhary ITA Nos.293/Ind/2012& C.O.No.65/Ind/2012 Tests laid down to determine whether income from shares is "business" income or "capital gains

SHRI MANISH MUNDRA,INDORE vs. PCIT UJJAIN, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

ITA 635/IND/2019[2014-15]Status: DisposedITAT Indore13 Jan 2021AY 2014-15

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

Section 263Section 56(2)(viib)

Capital Gain. Therefore the assessment order of Ld. A.O dated 22.12.2016 cannot be held to be erroneous in so far as prejudicial to the interest of revenue. We thus quash the impugned orders u/s 263 of the Act as the action of Ld. PCIT is contrary to the ratio laid down by the binding precedence and restore the assessment order

SHRI ADITYA MUNDRA,DEWAS vs. PCIT UJJAIN, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

ITA 632/IND/2019[2014-15]Status: DisposedITAT Indore13 Jan 2021AY 2014-15

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

Section 263Section 56(2)(viib)

Capital Gain. Therefore the assessment order of Ld. A.O dated 22.12.2016 cannot be held to be erroneous in so far as prejudicial to the interest of revenue. We thus quash the impugned orders u/s 263 of the Act as the action of Ld. PCIT is contrary to the ratio laid down by the binding precedence and restore the assessment order

M/S. CHARITRA GOLD PVT. LTD.,RATLAM vs. THE PR. CIT, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

ITA 517/IND/2019[2014-15]Status: DisposedITAT Indore13 Jan 2021AY 2014-15

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

Section 263Section 56(2)(viib)

Capital Gain. Therefore the assessment order of Ld. A.O dated 22.12.2016 cannot be held to be erroneous in so far as prejudicial to the interest of revenue. We thus quash the impugned orders u/s 263 of the Act as the action of Ld. PCIT is contrary to the ratio laid down by the binding precedence and restore the assessment order

SHRI GOVIND DAS MUNDRA,INDORE vs. PCIT UJJAIN, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

ITA 634/IND/2019[2014-15]Status: DisposedITAT Indore13 Jan 2021AY 2014-15

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

Section 263Section 56(2)(viib)

Capital Gain. Therefore the assessment order of Ld. A.O dated 22.12.2016 cannot be held to be erroneous in so far as prejudicial to the interest of revenue. We thus quash the impugned orders u/s 263 of the Act as the action of Ld. PCIT is contrary to the ratio laid down by the binding precedence and restore the assessment order

SHRI MANOJ MUNDRA,INDORE vs. PCIT UJJAIN, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

ITA 637/IND/2019[2014-15]Status: DisposedITAT Indore13 Jan 2021AY 2014-15

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

Section 263Section 56(2)(viib)

Capital Gain. Therefore the assessment order of Ld. A.O dated 22.12.2016 cannot be held to be erroneous in so far as prejudicial to the interest of revenue. We thus quash the impugned orders u/s 263 of the Act as the action of Ld. PCIT is contrary to the ratio laid down by the binding precedence and restore the assessment order

DHIRENDRA INTERNATIONAL (P) LTD.,NEEMUCH vs. PR. CIT UJJAIN, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

ITA 750/IND/2019[2014-15]Status: DisposedITAT Indore13 Jan 2021AY 2014-15

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

Section 263Section 56(2)(viib)

Capital Gain. Therefore the assessment order of Ld. A.O dated 22.12.2016 cannot be held to be erroneous in so far as prejudicial to the interest of revenue. We thus quash the impugned orders u/s 263 of the Act as the action of Ld. PCIT is contrary to the ratio laid down by the binding precedence and restore the assessment order

ACIT CENTRAL-2 , BHOPAL vs. M/S BALAJI FARMS AND REALITY , BHOPAL

Appeal is allowed and assessee’s cross-

ITA 166/IND/2022[2012-13]Status: DisposedITAT Indore22 Mar 2024AY 2012-13

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniacit (Central)-2, M/S.Balaji Farms & बनाम/ Bhopal Reality, Vs. 158,3Rd Floor, Zone-Ii, M.P.Nagar, Bhopal (Pan:Aalfb9630L) (Revenue/Appellant) (Assessee/Respondent)

Section 143(3)Section 147Section 148Section 271(1)(c)Section 274Section 50C

capital gain and also assessed total income at Rs. 1,90,80,477/- (R/o to Rs. 1,90,80,480/-). In the assessment-order so made, the AO recorded satisfaction for imposition of penalty u/s 271

RUPESH VYAS,INDORE vs. THE ACIT3(1), INDORE, INDORE

In the result, this appeal of assessee is dismissed

ITA 50/IND/2020[150-16]Status: DisposedITAT Indore06 Dec 2022

Bench: Shri T.R. Senthil Kumar & Shri B.M. Biyani

Section 10(38)Section 143(3)Section 68Section 69C

penalty proceeding u/s 271(1)(c) of the Income Tax Act 1961 also initiated on this issue. Addition Rs.2,73,105/- 7. During first appellate proceeding, the assessee submitted a detailed reply to Ld. CIT(A) which is noted by Ld. CIT(A) in his appeal-order. However, the assessee did not find any favour from

RUPESH VYAS,INDORE vs. THE ACIT3(1), INDORE, INDORE

In the result, this appeal of assessee is dismissed

ITA 909/IND/2018[2014-15]Status: DisposedITAT Indore07 Dec 2022AY 2014-15

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

Section 10(38)Section 143(3)Section 68Section 69C

penalty proceeding u/s 271(1)(c) of the Income Tax Act 1961 also initiated on this issue. Addition Rs.1,99,847/- Page 10 of 21 Shri Rupesh Vyas Assessment year 2014-15 7. During first appellate proceeding, the assessee submitted a detailed reply to Ld. CIT(A) which is noted by Ld. CIT(A) in his appeal-order. However

SEEMA JAIN,INDORE vs. ITO 1(1), INDORE

Appeal is allowed

ITA 591/IND/2024[2013-14]Status: DisposedITAT Indore17 Jul 2025AY 2013-14

Bench: Shri B.M. Biyani & Shri Paresh M. Joshiassessment Year: 2013-14 Seema Jain, Ito 1(1) 73-Ba, Scheme No.94, Indore Regency Adrise, Near बनाम/ Bombay Hospital, Vs. Vijay Nagar, Indore (Assessee/Appellant) (Revenue/Respondent) Pan: Adtpj4652K Assessee By Shri Anil Khandelwal, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 16.07.2025 Date Of Pronouncement 17.07.2025

Section 139Section 143(2)Section 143(3)Section 147Section 271(1)Section 271(1)(C)Section 271(1)(c)Section 50Section 50C

capital gain on the basis of intimation already on record of the A.O. which does not amount to breach of of section 50C for attracting penalty u/s 271

VIMAL TODI,INDORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX, INDORE

Appeal is allowed

ITA 188/IND/2024[2012-13]Status: DisposedITAT Indore06 Mar 2026AY 2012-13

Bench: Shri B.M. Biyani & Shri Paresh M Joshishri Vimal Todi, Additional Commissioner बनाम/ 501, Darshan Residency, Of Income-Tax, Vs. 104-105, Anand Bazar, Indore Indore

Section 132Section 254(2)Section 271DSection 275Section 275(1)(c)

Capital & Finlease Ltd. (2015) 378 ITR 614 (Delhi) (c) PCIT Vs. Rishikesh Buildcon Private Limited (2023) 451 ITR 108 (Delhi) 12. With these submissions, Ld. AR prayed to quash the penalty- orders as time-barred. 13. Per contra, Ld. DR submitted that in Para 20.5 of assessment- order, there is no initiation of penalty-proceedings

SMT. KAVITA SACHDEV,INDORE vs. ITO-3(4), INDORE, INDORE

In the result, the appeal of the assessee is allowed

ITA 255/IND/2023[2011-12]Status: DisposedITAT Indore16 May 2024AY 2011-12

Bench: Shri Vijay Pal Rao & Shrib.M. Biyaniassessment Year : 2011-12 Smt. Kavita Sachdev, Income-Tax Officer, 112,Jairampur Colony, 3(4), बनाम/ Indore. Indore. Vs. (Assessee / Appellant) (Revenue / Respondent) Pan : Arcps6793D Assessee By Shri Milind Wadhwani, Ca Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 14.05.2024 Date Of Pronouncement 16.05.2024

Section 147Section 148Section 271(1)(c)

capital gain interest and other sources. The AO also initiated the penalty proceedings u/s 271(1)(c) and levied a penalty

RAJARAM PATIDAR,BHOPAL MADHYA PRADESH vs. INCOME TAX OFFICER 2(4), HOSHANGABAD ROAD

Appeal is partly allowed as indicated above

ITA 129/IND/2024[2010-11]Status: DisposedITAT Indore27 Jun 2024AY 2010-11

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2010-11 Rajaram Patidar, Income-Tax Officer, H.No.112, Near Ram Lila 2(4), Maidan, Hoshangabad Road, बनाम/ Ward No. 52-53, Bhopal Vs. Misrod (Assessee/Appellant) (Revenue/Respondent) Pan: Bkapp7594R Assessee By Shri Anil Khabya, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 26.06.2024 Date Of Pronouncement 27.06.2024

Section 143(2)Section 271(1)(c)Section 54B

capital gain and (ii) Rs. 1,06,772/- on account of interest income, surviving even after ITAT’s order, should also be deleted on merit. 6. So far as the first part of assessee’s grievance is concerned, we agree that the penalty u/s 271