ASHWIN VAGHASIA,SURAT vs. INCOME TAX OFFICER, WARD -3(1)(1), SURAT
In the result, appeal filed by the assessee is allowed
ITA 374/SRT/2017[2006-07]Status: DisposedITAT Surat30 Jul 2021AY 2006-07
Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.374/Srt/2017 ("नधा"रणवष" / Assessment Year: (2006-07) (Virtual Court Hearing) Ashwin Vaghasia V The Income Tax Officer, 35, Sahyog Chambers Mini Bazar, S. Ward-3(1)(1), Surat. Sardar Chowk, Varachha Road, Surat - 395006 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abmpv2520M (Assessee) (Respondent) Assessee By : Shri Mehul Shah, C.A. Respondent By : Mrs. Anupama Singla – Sr.Dr सुनवाईक"तार"ख/ Date Of Hearing : 13/07/2021 घोषणाक"तार"ख/Date Of Pronouncement : 30/07/2021 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Appeal Filed By The Assessee Pertaining To A.Y.2006-07 Is Directed Against The Order Passed By The Ld.Commissioner Of Income Tax(Appeals)-3, Surat, [Ld.Cit(A)] In Appeal No.Cas-3/Trfd/V/270/2014-15 Dated 25.10.2017, Which In Turn Arises Out Of A Penalty Order Passed By The Assessing Officer Under Section 271(1)(C) Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”] Dated 19.03.2014. 2. The Solitary Grievance Of The Assessee In This Appeal Is That Learned Cit(Appeals) Has Erred In Confirming The Action Of Assessing Officer In Levying Penalty Of Rs.4,07,023/- Under Section 271(1) (C ) Of The Income Tax Act, 1961. 3.Brief Facts As Discernible From The Orders Of Lower Authorities Are That Assessee Is An Individual Before Us & He Filed His Return Of Income For The Year Under Consideration On 01.02.2007, Declaring Total Income Of Rs. 4,97,432/- Which Inter
For Appellant: Shri Mehul Shah, C.AFor Respondent: Mrs. Anupama Singla – Sr.DR
Section 143(3)Section 271(1)Section 271(1)(c)
section 271(1)(c) of the Act, which is placed at paper book page no.14 and the same is reproduced below:
Computation of Penalty Leviable u/s 271(1)(c)
Taxable income as per Assessment order
9,65,754
ADD : Agricultural income as per Assessment order
3,03,950
Assessed income
12,69