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3 results for “penalty u/s 271”+ Section 2(15)clear

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Key Topics

Section 271(1)(c)8Addition to Income3Natural Justice2

DILIP KUMAR SINGH,BALLIA vs. ITO, WARD - 2(4),, BALLIA

In the result, the appeal of the assessee is dismissed

ITA 72/VNS/2018[2010-2012]Status: DisposedITAT Varanasi22 Jul 2022AY 2010-2012

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharay: 2010-11 Sh. Dilip Kumar Singh, V. Income Tax Officer, Sarani Koth, Sikanderpur, Ballia, Ward-2(4), Ballia Uttar Pradesh Pan-Adups6163M (Appellant) (Respondent) Appellant By: None Respondent By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 05.07.2022 Date Of Pronouncement: 22.07.2022 O R D E R

For Appellant: NoneFor Respondent: Sh. A.K. Singh, Sr. DR
Section 143(3)Section 271(1)(c)

penalty levied under section 271(1)(c) which was confirmed by the CIT(A) on the addition of Rs. 3,11,649/- which was made by the CIT(A) being enhancement of assessment during the quantum appellate proceedings. Though the assessee has explained that it was not a case of concealment as the assessee has voluntarily revised the computation

M/S BANARAS SWARN KALA KENDRA PVT. LTD.,,VARANASI vs. ACIT, CC, VARANASI

ITA 4/VNS/2019[2011-2012]Status: DisposedITAT Varanasi21 Nov 2022AY 2011-2012

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2011-12 M/S. Banaras Swarn Kala Kendra Pvt. Ltd., The Assistant Commissioner Of Ck-65/70A, Bari Piari, V. Income Tax, Varanasi-221002, U.P. Central Circle, Aaykar Bhawan, M A Road, Varanasi-221002, U.P. Pan:Aaccb1623M (Appellant) (Respondent) Assesseeby: Shri A.K. Pandey, Advocate Revenue By: Shri Neeraj Kumar, Cit Dr Date Of Hearing: 25.08.2022 Date Of Pronouncement: 21.11.2022

For Appellant: Shri A.K. Pandey, AdvocateFor Respondent: Shri Neeraj Kumar, CIT DR
Section 132Section 153A

Penalty proceedings u/s 271AAA is being initiated separately on this point. (Addition of Rs. 8,06,04,299/-) That is how the addition of Rs. 8,06,04,299/- was made by the AO, which was the first addition made by the AO , w.r.t. differential in value of stock based on seized material vis-à-vis stock found

M/S RAJENDRA PRASAD SRIVASTAVA,AZAMGARH vs. ACIT, RANGE - AZAMGARH, AZAMGARH

In the result, the appeal of the assessee is dismissed

ITA 164/VNS/2019[2013-2014]Status: DisposedITAT Varanasi07 Feb 2023AY 2013-2014

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2013-14 M/S Rajendra Prasad Srivastava, Vs. Asstt. Commissioner Of Income Sarfuddinpur, Near Railway Tax, Range-Azamgarh Station, Azamgarh-276001 Pan-Aakfr2986A (Appellant) (Respondent) Appellant By: Sh.Hari N. Singh Bisen, C.A. Respondent By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 11.01.2023 Date Of Pronouncement: 07.02.2023

For Appellant: Sh.Hari N. Singh Bisen, C.AFor Respondent: Sh. A.K. Singh, Sr. DR
Section 143(2)Section 145(3)

section 145(3) of the Income Tax Act and then estimated the business income by excluding the interest income on FDR which was separately assessed as income from other sources. Accordingly, the net profit was estimated by the Assessing Officer at 8% before interest and remuneration paid to partner. Consequently, the Assessing Officer has assessed the total income