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57 results for “penalty u/s 271”+ Carry Forward of Lossesclear

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Key Topics

Section 271(1)(c)79Addition to Income40Section 143(3)38Section 14738Section 25030Penalty26Section 6825Section 14A22Section 143(2)

HEIGHT INSURANCE SERVICES LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 1(1), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

ITA 19/KOL/2023[2014-2015]Status: DisposedITAT Kolkata28 Nov 2023AY 2014-2015

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2014-15

For Appellant: Shri Somnath Ghosh, Advocate & Shri P. JFor Respondent: Shri B. K. Singh, JCIT, Sr. DR
Section 139(1)Section 143(3)Section 144BSection 147Section 148Section 14ASection 271(1)(c)

penalty u/s. 271(1)(c) of the Act for the charge alleged by the Ld. AO that assessee has furnished inaccurate particular of income in respect of claim of 8 Height Insurance Services Ltd., AY 2014-15 carry forward and set off of business losses

Showing 1–20 of 57 · Page 1 of 3

20
Section 26318
Disallowance17
Deduction11

D.C.I.T., CC-4(4), KOLKATA, KOLKATA vs. EVERSIGHT TRADE COMM PVT. LTD., KOLKATA

In the result, all the three appeals filed by the revenue are dismissed and copy of common order passed is to be placed on respective case files

ITA 587/KOL/2022[2008-2009]Status: DisposedITAT Kolkata19 Jan 2023AY 2008-2009

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

Section 133ASection 139(1)Section 139(2)Section 142(1)Section 147Section 22(1)Section 22(4)Section 271(1)(c)Section 274

loss of Rs. 35,99,13,932/- and survey operation u/s 133A was conducted on 05.05.2014 in the case of Shri Adish Jain and its group. Consequent to that a total disclosure of Rs. 20,79,41,930/- was made and subsequently disclosure was revised to Rs. 23,33,19,194/- and out of which

D.C.I.T., CC-4(4), KOLKATA, KOLKATA vs. EVERSIGHT TRADECOMM PVT. LTD., KOLKATA

In the result, all the three appeals filed by the revenue are dismissed and copy of common order passed is to be placed on respective case files

ITA 589/KOL/2022[2014-2015]Status: DisposedITAT Kolkata19 Jan 2023AY 2014-2015

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

Section 133ASection 139(1)Section 139(2)Section 142(1)Section 147Section 22(1)Section 22(4)Section 271(1)(c)Section 274

loss of Rs. 35,99,13,932/- and survey operation u/s 133A was conducted on 05.05.2014 in the case of Shri Adish Jain and its group. Consequent to that a total disclosure of Rs. 20,79,41,930/- was made and subsequently disclosure was revised to Rs. 23,33,19,194/- and out of which

D.C.I.T., CC-4(4), KOLKATA, KOLKATA vs. EVERSIGHT TRADE COMM PVT. LTD., KOLKATA

In the result, all the three appeals filed by the revenue are dismissed and copy of common order passed is to be placed on respective case files

ITA 588/KOL/2022[2009-2010]Status: DisposedITAT Kolkata19 Jan 2023AY 2009-2010

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

Section 133ASection 139(1)Section 139(2)Section 142(1)Section 147Section 22(1)Section 22(4)Section 271(1)(c)Section 274

loss of Rs. 35,99,13,932/- and survey operation u/s 133A was conducted on 05.05.2014 in the case of Shri Adish Jain and its group. Consequent to that a total disclosure of Rs. 20,79,41,930/- was made and subsequently disclosure was revised to Rs. 23,33,19,194/- and out of which

BALAJI METAL AND SPONGE PVT. LTD.,KOLKATA vs. I.T.O., WARD - 5(4), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee is allowed

ITA 1486/KOL/2024[2012-2013]Status: DisposedITAT Kolkata29 Nov 2024AY 2012-2013

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

Section 139Section 144Section 148Section 250Section 271Section 271(1)(c)

loss account and other related documents. According to him, all the activities in transaction in relation to the business of the assessee had been reflected in the said audited accounts. Ld. Counsel for the assessee submits that there was no concealment of particulars of income from the side of the ass. The ld. Counsel for the assessee further submits that

HANSIT MERCHANTS PVT.LTD,KOLKATA vs. ITO, WARD-2(2). , KOLKATA

In the result, the appeal of the assessee is allowed

ITA 266/KOL/2023[2014-15]Status: DisposedITAT Kolkata23 Aug 2023AY 2014-15

Bench: Shri Sonjoy Sarma & Shri Girish Agrawal]

Section 143(2)Section 250Section 271(1)(c)Section 274

loss on penny stocks claimed by the assessee and separate penalty proceeding initiated by the AO by imposing penalty of Rs. 1,95,000/- vide penalty order u/s 271(1)(c) of the Act. 3. Aggrieved by the above order, assessee preferred an appeal before the ld. CIT(A). However the appeal of the assessee was dismissed ex-parte

SUBRATA MOITRA,DURGAPUR vs. COMMISSIONER OF INCOME-TAX (APPEALS), DELHI

In the result, the appeal of the assessee is allowed

ITA 1827/KOL/2024[2014-15]Status: DisposedITAT Kolkata24 Apr 2025AY 2014-15

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 143(3)Section 271(1)Section 271(1)(c)Section 274Section 40A(3)Section 68

loss account being treated as undisclosed receipts. 3. The said order has been challenged by the assessee before the Ld. CIT(A) wherein the appeal of the assessee allowed on the ground of addition of Rs. 23,11,773/- on account of difference in contract receipt as per Form 26AS but dismissed the appeal of the assessee on the addition

GREENEX CHEMICALS PVT. LTD.,KOLKATA vs. A.C.I.T., CC-2(4), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed

ITA 657/KOL/2022[Greenex Chemicals Pvt. Ltd.]Status: DisposedITAT Kolkata16 Jan 2023

Bench: Shri Sanjay Garg & Shri Manish Boradi.T.A No.657/Kol/2022 Assessment Year: 2014-15 Greenex Chemicals Pvt. Ltd.………....................................................……Appellant 4/1, Middleton Street, Kolkata-700001. [Pan: Aaacg8396G] Vs. Acit, Central Circle-2(4), Kolkata…..…....…...................……...…..…..Respondent Appearances By: Shri Manoj Kataruka, Ar, Appeared On Behalf Of The Appellant. Shri Subhrajyoti Bhattacharjee, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : January 05, 2023 Date Of Pronouncing The Order : January 16, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 12.10.2022 Of The Commissioner Of Income Tax(Appeals), Kolkata-20 [Hereinafter Referred To As The ‘Cit(A)’] Confirming The Penalty Levied By The Assessing Officer U/S 271Aab Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee, In This Appeal, Has Taken The Following Grounds Of Appeal: “1. That The Learned Cit(A)-20 Was Not Justified In Confirming Penalty U/S 271Aab Of The It Act, 1961 At Rs.20,06,030/- By Ignoring The Fact That The Appellant Had Made Disclosure During The Search To Buy Metal Peace & Avoid Litigation & Hence No Penalty Is To Be Levied U/S 271Aab.

Section 271(1)(c)Section 271A

carried on 11.04.2013 in the premises of the assessee and during the search action, the assessee surrendered income of Rs.2,00,60,300/-. The Assessing Officer however levied the penalty @30% holding that the assessee did not pay the due taxes on the income disclosed rather the disclosed income was set off against the derivative loss. 5. In appeal

CHANDRAVADAN DESAI,KOLKATA vs. ITO, WARD-7(2), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed as per terms indicated above

ITA 674/KOL/2023[2014-15]Status: DisposedITAT Kolkata17 Apr 2024AY 2014-15

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 674/Kol/2023 Assessment Year: 2014-15 Chandravadan Desai Income Tax Officer, Ward-7(2), Sb Tower, 3Rd Floor Vs Kolkata 37, Shakespeare Sarani Circus Avenue S.O. Kolkata - 700017 [Pan : Aabdh5812Q] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Akkal Dudhewala, A.R. Revenue By : Shri Abhijit Kundu, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 06/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 17/04/2024 आदेश/O R D E R Per Dr. Manish Borad: This Appeal At The Instance Of The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi (In Short ‘Ld. First Appellate Authority’) Dt. 09/05/2023 Which Is Arising Out Of The Assessment Order U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter ‘The Act’), Dt. 30/12/2016 Relevant To Assessment Year 2014-15 Framed By Acit, Circle-32, Kolkata. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That On The Facts & In The Circumstances Of The Case, The Lower Authorities Inspite Of Being Aware That Chandravadan Desai Huf Had Been Partitioned & Had Ceased To Exist Upon Its Partition On The 26Th Day Of March 2014 & The Impugned Penalty Order Passed By The Ao In The Name Of Chandravadan Desai Huf, A Non-Existent Person Was Invalid & Therefore The Order Deserves To Be Cancelled.

For Appellant: Shri Akkal Dudhewala, A.RFor Respondent: Shri Abhijit Kundu, CIT, D/R
Section 143(2)Section 143(3)Section 271(1)(c)

loss. 4 I.T.A. No. 674/Kol/2023 Assessment Year: 2014-15 Chandravadan Desai On the other hand, the ld. D/R vehemently argued supporting the orders of the lower authorities. 4. We have heard rival contentions and perused the material placed before us. Penalty levied by the ld. Assessing Officer and confirmed by the ld. CIT(A) u/s 271

HANUMAN STEEL WIRES PVT. LTD.,KOLKATA vs. I.T.O., WARD - 3(3), KOLKATA, KOLKATA

In the result, the appeal of the assessee is treated as partly allowed

ITA 1544/KOL/2024[2012-2013]Status: DisposedITAT Kolkata26 Sept 2024AY 2012-2013

Bench: Shri Sanjay Gargandshri Sanjay Awasthi

Section 143(3)Section 154Section 271(1)(c)

carried out u/s 143(3) of the Act made the addition of Rs.1,10,00,000/- on account of unexplained share capital and share premium vide order dated 21.03.2015. Penalty proceedings were initiated u/s 271(1)(c) of the Act and the impugned penalty was imposed. In the quantum proceedings, the ld. CIT(A) confirmed the addition so made

FAB LEATHERS LTD,KOLKATA vs. ACIT, CEN. CIR. 3(3), KOLKATA

In the result, all the appeals of the assessee are treated as partly allowed for statistical purposes

ITA 415/KOL/2024[2007-08]Status: DisposedITAT Kolkata30 May 2024AY 2007-08

Bench: Shri Sanjay Garg & Shri Sanjay Awasthi

Section 194ISection 263Section 271(1)(c)

carried out for assessment year 2006-07. Similar additions were made by the Assessing Officer for different assessment years, the details of which are as under

FAB LEATHERS LTD.,KOLKATA vs. ACIT, CEN. CIR. 3(3), KOLKATA

In the result, all the appeals of the assessee are treated as partly allowed for statistical purposes

ITA 414/KOL/2024[2006-07]Status: DisposedITAT Kolkata30 May 2024AY 2006-07

Bench: Shri Sanjay Garg & Shri Sanjay Awasthi

Section 194ISection 263Section 271(1)(c)

carried out for assessment year 2006-07. Similar additions were made by the Assessing Officer for different assessment years, the details of which are as under

FAB LEATHERS LTD,KOLKATA vs. ACIT, CEN. CIR. 3(3), KOLKATA

In the result, all the appeals of the assessee are treated as partly allowed for statistical purposes

ITA 417/KOL/2024[2009-10]Status: DisposedITAT Kolkata30 May 2024AY 2009-10

Bench: Shri Sanjay Garg & Shri Sanjay Awasthi

Section 194ISection 263Section 271(1)(c)

carried out for assessment year 2006-07. Similar additions were made by the Assessing Officer for different assessment years, the details of which are as under

FAB LEATHERS LTD,KOLKATA vs. ACIT, CEN. CIR. 3(3), KOLKATA

In the result, all the appeals of the assessee are treated as partly allowed for statistical purposes

ITA 416/KOL/2024[2008-09]Status: DisposedITAT Kolkata30 May 2024AY 2008-09

Bench: Shri Sanjay Garg & Shri Sanjay Awasthi

Section 194ISection 263Section 271(1)(c)

carried out for assessment year 2006-07. Similar additions were made by the Assessing Officer for different assessment years, the details of which are as under

FAB LEATHERS LTD,KOLKATA vs. ACIT, CEN. CIR. 3(3), KOLKATA

In the result, all the appeals of the assessee are treated as partly allowed for statistical purposes

ITA 419/KOL/2024[2011-12]Status: DisposedITAT Kolkata30 May 2024AY 2011-12

Bench: Shri Sanjay Garg & Shri Sanjay Awasthi

Section 194ISection 263Section 271(1)(c)

carried out for assessment year 2006-07. Similar additions were made by the Assessing Officer for different assessment years, the details of which are as under

FAB LEATHERS LTD,KOLKATA vs. ACIT, CEN. CIR.3(3) , KOLKATA

In the result, all the appeals of the assessee are treated as partly allowed for statistical purposes

ITA 418/KOL/2024[2010-11]Status: DisposedITAT Kolkata30 May 2024AY 2010-11

Bench: Shri Sanjay Garg & Shri Sanjay Awasthi

Section 194ISection 263Section 271(1)(c)

carried out for assessment year 2006-07. Similar additions were made by the Assessing Officer for different assessment years, the details of which are as under

FAB LEATHERS LTD,KOLKATA vs. ACIT, CEN. CIR. 3(3), KOLKATA

In the result, all the appeals of the assessee are treated as partly allowed for statistical purposes

ITA 490/KOL/2024[2012-13]Status: DisposedITAT Kolkata30 May 2024AY 2012-13

Bench: Shri Sanjay Garg & Shri Sanjay Awasthi

Section 194ISection 263Section 271(1)(c)

carried out for assessment year 2006-07. Similar additions were made by the Assessing Officer for different assessment years, the details of which are as under

ARUN KUMAR BOSE,SILIGURI vs. I.T.O., WARD - 1(1), SILIGURI, SILIGURI

In the result, the appeal of the assessee stands dismissed

ITA 465/KOL/2022[2014-2015]Status: DisposedITAT Kolkata09 Feb 2023AY 2014-2015

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A No.465/Kol/2022 Assessment Year: 2014-15 Arun Kumar Bose................................................................................…..…Appellant 9, Rajani Kant Sarani, Hakimpara, Siliguri. [Pan: Ahvpb8055A] Vs. Ito, Ward-1(1), Siliguri...…..…...........................................…....…..…..Respondent Appearances By: Shri Ananda Sen, Adv. & S. Mandal, Adv., Appeared On Behalf Of The Appellant. Shri P.P Barman, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : January 18, 2023 Date Of Pronouncing The Order : February 9Th, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 23.11.2021 Of The National Faceless Appeal Centre [Hereinafter Referred To As The ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Appeal Is Time-Barred By 58 Days. An Application For Condonation Of Delay Has Been Filed, Wherein, It Has Been Mentioned That The Appellant Is A Senior Citizen & Was Effected By Covid & Therefore, Could Not File The Appeal In Time. Considering The Averments Made In The Application, The Delay In Filing The Present Appeal Is Hereby Condoned & The Appeal Is Admitted For Hearing.

Section 133(6)Section 250Section 251(1)(a)Section 271(1)(c)

penalty u/s 271(1)(c) is initiated for furnishing of inaccurate particulars." The Assessing Officer, therefore, held that the liability of the assessee in respect of aforesaid five creditors has ceased to exist. He, therefore, made the impugned addition in respect of the aforesaid liability shown by the assessee as income of the assessee at Rs.85,42,010/-. 5. Being

ZYDUS HEALTHCARE LTD,GANGTOK vs. ACIT, CIR. 3(2), GANGTOK

In the result, the appeal of the assessee is allowed

ITA 139/KOL/2021[2014-15]Status: DisposedITAT Kolkata20 Feb 2023AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 139/Kol/2021 Assessment Year: 2014-2015 Zydus Healhcare Limited,……..................Appellant (Successor To Zydus Healthcare Sikkim), 4Th Floor, ‘D’ Wing, Zudus Corporate Park, Scheme No. 63, Survey No. 536, Khoraj (Gandhinagar), Nr. Vaishnodevi Circle, Ahmedabad, Gandhinagar, Gujrat-382481 [Pan: Aaacg1895Q] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-3(2), Gangtok, Sikkim-737101 Appearances By: Shri Ajit Kumar Jain, Ca & Sonal Pandey, A.R., Appeared On Behalf Of The Assessee Shri G. Hukugha Sema, Cit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : January 18, 2023 Date Of Pronouncing The Order : February 20, 2023 O R D E R

Section 143(3)Section 144CSection 153Section 156Section 271Section 271(1)(c)Section 274

u/s 271(1)(c) of the I.T. Act, 1961 is initiated separately for furnishing inaccurate particulars of income. (R. Kiruthiga) DCIT, Circle-3(2), Gangtok”. 8. The ld. Assessing Officer has determined the taxable income assessable in the hands of the assessee. Thereafter he prepared a detailed computation of income available on pages no. 53 to 55 of the record

DCIT, CENT. CIR-2(2), KOLKATA, KOLKATA vs. M/S RAMPURIA INDUSTRIES AND INVESTMENTS LIMITED, KOLKATA

In the result, the appeal filed by the Revenue is allowed for statistical purposes

ITA 1961/KOL/2017[2012-13]Status: DisposedITAT Kolkata28 Mar 2023AY 2012-13

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(2)Section 143(3)Section 14ASection 250

Penalty u/s. 271(1)(c) separately initiated for concealment of income. [Addition: Rs. 2,62,58,847/-]” 8. Further, we notice that ld. CIT(A) decided in favour of the assessee observing as follows: “I have considered the facts of the case and the submissions of the appellant. This ground of appeal of the appellant is directed against the action