R.S. TRADELINK PVT.LTD.,SURAT vs. THE ACIT.,CIRCLE-4,, SURAT
In the result, the appeal filed by the assessee is allowed
ITA 2130/AHD/2014[2008-09]Status: DisposedITAT Surat04 Feb 2021AY 2008-09
Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.2130/Ahd/2014 ("नधा"रणवष" / Assessment Year: (2008-09) (Virtual Court Hearing) M/S. R.S. Tradelink Pvt. Ltd., Vs. The Assistant Commissioner Plot No.17, Magdalla Port Road, Of Income Tax, Circle-4, Surat. Magdalla, Surat-395007. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcr6607A (Assessee) (Respondent)
For Appellant: Shri Rasesh Shah - CAFor Respondent: Shri Ritesh Mishra - CIT (DR)
Section 143(3)Section 271Section 271(1)Section 271(1)(c)Section 274
5. However, the ld. CIT(A) has confirmed the penalty under section 271 (1)
(c ) of the Act, in respect of addition made by the assessing officer under the head
Long Term Capital Gain(LTCG). That is, the penalty, under section 271 (1) (c ), imposed by the assessing officer, in respect of addition of LTCG of Rs.9