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3 results for “penalty u/s 271”+ Section 50Cclear

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Mumbai61Delhi55Ahmedabad26Jaipur20Surat10Lucknow10Agra9Dehradun7Hyderabad6Indore6Chennai6Visakhapatnam6Bangalore6Pune4Chandigarh4Kolkata3Nagpur3Rajkot3Jodhpur2Allahabad2Jabalpur1Raipur1Patna1

Key Topics

Section 43C6Section 271(1)(c)5Section 50C3Section 56(2)(vii)3Addition to Income3Section 234A2Section 1482Section 562Penalty2

SMT. RADHADEVI MADHUSUDAN JAJODIA,THANE vs. DEPUTY COMMISSIONER OF INCOME TAX , AMRAVATI CIRCLE, AMRAVATI

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

ITA 84/NAG/2023[2014-15]Status: DisposedITAT Nagpur25 Jun 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Himesh DambleFor Respondent: Shri Rajat Singhai
Section 142(1)Section 143(2)Section 234ASection 271(1)(c)Section 43C

penalty proceedings u/s 271(1)(c) is unjustified and unwarranted.” 3. Facts in brief:– The assessee is an individual and is engaged in the business of plot development. The assessee filed its return of income for the year under consideration on 29/11/2014, declaring total income at ` 35,60,840. The case was picked up for scrutiny through CASS

MRS. DEVYANI AJIT MULIK,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCEL-1, NAGPUR

In the result, the appeal of the assessee is allowed

ITA 1/NAG/2023[2016-17]Status: DisposedITAT Nagpur18 Mar 2024AY 2016-17

Bench: Shri S.S.Godara & Dr. Dipak P. Ripote

Section 250Section 271(1)(c)Section 50C

section 50C of the Act. Accordingly, AO made addition of Rs.2,35,08,703/- as the difference between long term capital gain shown by the assessee in the return of income and as calculated by the AO. AO also initiated penalty u/s.271(1)(c) for furnishing inaccurate particulars of income. Vide order dated 28.06.2019, AO levied penalty u/s. 271

BHAVESH SURESH SEJPAL,AKOT vs. ITO WARD-3, AKOLA

In the result, appeal by the assessee stands allowed

ITA 467/NAG/2024[2014-15]Status: DisposedITAT Nagpur21 Mar 2025AY 2014-15

Bench: Shri V. Durgarao & Shrik.M. Roy, Accountant, Member

For Appellant: Shri Naresh JakhotiaFor Respondent: Shri Abhay Y. Marathe
Section 147Section 148Section 44ASection 50Section 56Section 56(2)(vii)

penalty proceedings u/s. 271(1)(c) of the IT Act for under-reporting is initiated separately.” Consequent upon the issuance of the assessment order passed under section 56(2)(vii)(b) of the Act, the assessee filed appeal before the first appellate authority. 5. The learned CIT(A) dismissed the appeal of the assessee by holding as under