M/S JUPITER TRADELINKS PRIVATE LIMITED,LUCKNOW vs. DY,. COMMISSIONER OF INCOME TAX, CC-1, LUCKNOW
In the result, the appeal of the assessee is allowed for statistical purposes
ITA 71/LKW/2025[2013-14]Status: DisposedITAT Lucknow29 Aug 2025AY 2013-14
Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2013-14 M/S Jupiter Tradelinks Private Vs. Dcit, Limited, Dobiriyal Complex Gole Central Circle-1, Lucknow Market Mahanagar, Lucknow Pan: Aaccj0525G (Appellant) (Respondent) Assessee By: Sh. Akshay Agarwal, Advocate Revenue By: Sh. R.K. Agarwal, Cit Dr Date Of Hearing: 30.07.2025 Date Of Pronouncement: 29.08.2025 O R D E R Per Nikhil Choudhary, A.M.: This Is An Appeal Filed By The Assessee Against The Orders Of The Ld. Cit(A)-3, Lucknow Under Section 250 Of The Income Tax Act, 1961 On 26.11.2024 Dismissing The Appeals Of The Assessee Against The Orders Of The Ld. Ao Dated 4.06.2019, Passed Under Section 271(1)(C). The Grounds Of Appeal Are As Under: - “1. The Learned Cit(A) Has Erred In Both Law & Facts Of The Case By Confirming The Penalty Of 2,20,41,900/- Levied By The Assessing Officer. 2. The Learned Cit(A) Has Failed To Appreciate That: A. The Appellant Has Neither Concealed The Particulars Of Its Income Nor Furnished Any Inaccurate Particulars Of Income; B. There Was No Failure On The Part Of The Appellant In Truly & Fully Disclosing All Material Facts C. Mere Disallowance Or Rejection Of The Claim Or Stand Taken By The Appellant Based On Reasonable Interpretation Of The Law Is Not Sufficient To Attract Penalty U/S 271(1)(C) 3. The Amount Of Penalty Confirmed By The Learned Cit(A) Is Invalid, Excessive & Unreasonable.”
For Appellant: Sh. Akshay Agarwal, AdvocateFor Respondent: Sh. R.K. Agarwal, CIT DR
Section 144Section 250Section 271(1)(c)Section 68
271(1)(c)
3. The amount of penalty confirmed by the learned CIT(A) is invalid, excessive and unreasonable.”
1
A.Y. 2013-14
M/s Jupiter Tradelinks Pvt. Ltd.
2. The facts of the case are that the assessee company filed its return of income for the assessment year 2013-14, declaring a net income of Rs. 15,952/-. Subsequently
