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55 results for “capital gains”+ Section 274clear

Sorted by relevance

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Key Topics

Section 271(1)(c)93Penalty42Section 143(3)37Section 80I36Addition to Income33Section 27431Section 271D30Capital Gains19Section 14417

SMT. KANCHARLAPALLI HEMALATHA,,VIJAYAWADA vs. THE ITO,, VIJAYAWADA

In the result, the appeal of the assessee is allowed

ITA 322/VIZ/2016[2010-2011]Status: DisposedITAT Visakhapatnam06 Nov 2018AY 2010-2011

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.322/Viz/2016 (धििाारण िर्ा/Assessment Year:2010-2011) Smt.Kancharlapalli Hemalatha Vs. Income Tax Officer Flat No.102, Sri Kesava Heights Ward-2(3) D.No.59A-21/3-5/2 Vijayawada Vizayanagar Colony Vijayawada [Pan :Bcmpk6735M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri D.L.Narasimha Rao, ARFor Respondent: Shri Suman Malik, DR
Section 139(1)Section 139(4)Section 54F

section (4) of the Act, therefore viewed that the sum is chargeable to capital gains in the impugned Assessment year(A.Y). The Ld.AO further observed that the consideration for the purchase of the property was paid on 30.11.2010, that is after the due date for furnishing the return of income u/s 139(1) for the assessment year

Showing 1–20 of 55 · Page 1 of 3

Section 269S15
Deduction14
Long Term Capital Gains13

ITO, WARD-3(3),, VISAKHAPATNAM vs. SIRIPURAPU CHINATALLI,, VISAKHAPATNAM

In the result, the appeals of the revenue are dismissed

ITA 375/VIZ/2017[2008-2009]Status: DisposedITAT Visakhapatnam13 Feb 2019AY 2008-2009

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.375/Viz/2017 (ननधधारण वर्ा/Assessment Year:2008-09) Income Tax Officer Vs. Smt.Siripurapu Chinatalli Ward-3(3) D.No.9-16-37/2 Visakhapatnam Gurajada Enclave Cbm Compound Visakhapatnam [Pan : Agrpc1150E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.457/Viz/2017 (ननधधारण वर्ा/Assessment Year: 2008-09) Income Tax Officer Vs. Shri K.V.V.Prasad Ward-3(3) Plot No.301, Vytla Residency Visakhapatnam Balajinagar Siripuram Visakhapatnam (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri D.K.Sonowal, Cit Dr प्रत्यधथी की ओर से/ Respondent By : Shri G.V.N.Hari, Ar सुनवधई की तधरीख / Date Of Hearing : 24.01.2019 : 13.02.2019 घोर्णध की तधरीख/Date Of Pronouncement

For Appellant: Shri D.K.Sonowal, CIT DRFor Respondent: Shri G.V.N.Hari, AR
Section 271(1)(c)

274 r.w.s. 271(1)(c) dated 07.03.2013 and imposed penalty of Rs.98,77,719/- against S.Chinatalli and Rs.1,14,72,375/- against Shri K.V.V.Prasad. The AO in the penalty order reiterated the observations of the CIT(A) and the assessment order which reads as under : 1. The assessee while entering into an agreement for purchase of land from RK Mittal

ITO, WARD-3(3),, VISAKHAPATNAM vs. SHRI K V V PRASAD,, VISAKHAPATNAM

In the result, the appeals of the revenue are dismissed

ITA 457/VIZ/2017[2008-2009]Status: DisposedITAT Visakhapatnam13 Feb 2019AY 2008-2009

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.375/Viz/2017 (ननधधारण वर्ा/Assessment Year:2008-09) Income Tax Officer Vs. Smt.Siripurapu Chinatalli Ward-3(3) D.No.9-16-37/2 Visakhapatnam Gurajada Enclave Cbm Compound Visakhapatnam [Pan : Agrpc1150E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.457/Viz/2017 (ननधधारण वर्ा/Assessment Year: 2008-09) Income Tax Officer Vs. Shri K.V.V.Prasad Ward-3(3) Plot No.301, Vytla Residency Visakhapatnam Balajinagar Siripuram Visakhapatnam (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri D.K.Sonowal, Cit Dr प्रत्यधथी की ओर से/ Respondent By : Shri G.V.N.Hari, Ar सुनवधई की तधरीख / Date Of Hearing : 24.01.2019 : 13.02.2019 घोर्णध की तधरीख/Date Of Pronouncement

For Appellant: Shri D.K.Sonowal, CIT DRFor Respondent: Shri G.V.N.Hari, AR
Section 271(1)(c)

274 r.w.s. 271(1)(c) dated 07.03.2013 and imposed penalty of Rs.98,77,719/- against S.Chinatalli and Rs.1,14,72,375/- against Shri K.V.V.Prasad. The AO in the penalty order reiterated the observations of the CIT(A) and the assessment order which reads as under : 1. The assessee while entering into an agreement for purchase of land from RK Mittal

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, KAKINADA vs. SRI JIYYANA VENKATARAYUDU (HUF), KAKINADA

In the result, appeal of the Revenue is dismissed

ITA 173/VIZ/2024[2017-18]Status: DisposedITAT Visakhapatnam09 Oct 2024AY 2017-18

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No. 173/Viz/2024 (िनधा"रण वष" / Assessment Year: 2017-18) Asst. Commissioner Of Income Vs. Sri Jiyyana Venkatarayudu Tax, Circle-1, (Huf), Thimmapuram Village, Kakinada. Kakinada. Pan: Aahhj3600A (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri Gvn Hari, Ar ""याथ" क" ओर से / Respondent By : Dr. Aparna Villuri, Sr. Ar सुनवाई क" तारीख / Date Of Hearing : 25/09/2024 घोषणा क" तारीख/Date Of : 09/10/2024 Pronouncement O R D E R

For Appellant: Sri GVN Hari, ARFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 139(1)Section 144Section 183Section 184Section 185Section 187Section 187(3)Section 197Section 271Section 271F

section 197(b) of the IDS, 2016 and concluded that the income declared by the assessee shall be treated as income of the assessee in the year of declaration and brought the amount of Rs.2,15,48,400/- to tax U/s. 68 r.w.s 115BBE of the Act. Thereafter, the Ld. AO also issued a show cause notice dated 02/12/2019

VIJAYRATNA VEERA KUMAR,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-2(2), VISAKHAPATNAM

In the result, appeal of the assessee is allowed for statistical

ITA 102/VIZ/2023[2007-08]Status: DisposedITAT Visakhapatnam22 Nov 2023AY 2007-08

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

For Appellant: Sri Y. Surya Chandra Rao, ARFor Respondent: Sri Shri Madhukar Aves
Section 142(1)Section 143(2)Section 148Section 271(1)(c)Section 274Section 50C

capital gains with respect to the assessee. The Ld.AO thereafter initiated the penalty proceedings U/s. 271(1)(c) of the Act. Aggrieved by the order of the Ld. AO, the assessee filed an appeal before the Ld. CIT(A)-NFAC. 3. On appeal, the Ld. CIT(A)-NFAC dismissed the appeal of the assessee holding that the assessee

DEPUTY COMMISSIONER OF INCOME TAX, VISAKHAPATNAM vs. VENKATA SITA RAMACHANDRA RAO KANCHUMARTHY, RAJAHMUNDRY

In the result, appeal of the revenue is dismissed

ITA 352/VIZ/2025[2016-17]Status: DisposedITAT Visakhapatnam07 Nov 2025AY 2016-17

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.352/Viz/2025 (निर्धारण वर्ा/ Assessment Year:2016-17) Vs. Dy. Commissioner Of Income Tax Venkata Sita Ramachandra Rao Kanchumarty International Taxation, Circle H.No. 26-22-16 Ground Floor, Infinity Tower Near Chinna Anjaneya Swamy Temple Sankarmattam Road Danavaipeta, Rajahmundry Visakhapatnam – 530016 East Godavari District – 533103 Andhra Pradesh Andhra Pradesh [Pan:Edzpk3519Q]

Section 143(2)Section 148Section 271(1)(c)Section 292B

Capital Gains as directed by the Ld. CIT(A). Thereafter, Ld.AO initiated penalty proceedings under section 271(1)(c) of the Act by issuing show-cause notice dated 27.12.2018, 31.05.2021 and 21.06.2021. In response, assessee cited various judicial pronouncements wherein the Ld. AO has failed to mark the proper limb of section 271(1)(c) of the Act under which

JOINT COMMISSIONER OF INCOME TAX, (OSD), CENTRAL CIRCLE-2,, VISAKHAPATNAM vs. SURYA MANGAPATHI RAJU PENMETSA,, VISAKHAPATNAM

In the result, appeal filed by the Revenue as well as cross objection filed by the assessee is dismissed

ITA 275/VIZ/2018[2013-14]Status: DisposedITAT Visakhapatnam05 Oct 2018AY 2013-14

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blejcit, Central Circle-2, Vs. Surya Mangapathi Raju Visakhapatnam. Penmetsa, D.No. 11-9-6/2, Flat No. 90, Dasapalla Hills, Visakhapatnam. Pan No. Ahapp 1548 F (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri P.S. Murthy – Sr.DR
Section 144Section 147Section 271(1)(c)Section 274

capital gain of Rs. 90,93,422/-; cash credits of Rs. 5,83,000/- from the unknown source; income from salary of Rs. 18,00,000/- and income from house property of Rs. 67,200/-. Accordingly, the Assessing Officer has assessed the income of the assessee of Rs.1,15,43,620/-. Subsequently, the Assessing Officer has issued a notice under

VIJAYA DURGA PENUMALA,RAJAHMUNDRY vs. INCOME TAX OFFICER, WARD-2(1), RAJAHMUNDRY

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

ITA 249/VIZ/2024[2016-17]Status: DisposedITAT Visakhapatnam31 Jul 2024AY 2016-17

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.249/Viz/2024 (िनधा"रण वष" / Assessment Year : 2016-17) Vijaya Durga Penumala, Vs. The Income Tax Officer, 74-8-20, Siri Apartments-2, Ward-2(1), Prakash Nagar, Rajahmundry, Rajahmundry. Andhra Pradesh – 533103. Pan: Cxdpp1606F (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri C. Subrahmanyam, Ar ""याथ" क" ओर से / Respondent By : Dr. Aparna Villuri, Sr. Ar सुनवाई क" तारीख / Date Of Hearing : 29/07/2024 घोषणा क" तारीख/Date Of : 31/07/2024 Pronouncement O R D E R

For Appellant: Sri C. Subrahmanyam, ARFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 143(2)Section 271(1)(c)Section 50C

capital gains on the development agreement to be Rs. 54,03,020/-. The Ld. AO also observed that the assessee and her husband have transferred 490.26 sq yds to M/s. Bhavya Builders and the fair market value of the land is at Rs. 18,000/- per sq yd and therefore the value of the land transferred worked

TAMMANA SURYA NARAYANA,MACHILIPATNAM vs. THE INCOME TAX OFFICER, WARD-1, MACHILIPATNAM

In the result, appeal filed by the assessee is allowed

ITA 567/VIZ/2019[2009-2010]Status: DisposedITAT Visakhapatnam28 Feb 2020AY 2009-2010

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bletammana Surya Narayana, Vs. Ito, Ward-1, Prop. : Sri Swamy Ayyappa Machilipatnam. Traders, 27/299-3, Pathramannapet, Ed Plots, Machilipatnam. Pan No. Adhpt 8046 M (Appellant) (Respondent)

For Appellant: Shri D.L.Narasimha Rao, AdvFor Respondent: Shri V. Rama Mohan, Sr.DR
Section 143(3)Section 271(1)(c)Section 274

section 274 r.w.s. 271 is for concealment of income or furnished (Tammana Surya Narayana) inaccurate particulars. Therefore, the notice issued by the Assessing Officer is not a valid notice in the light of the latest judgment of the Hon'ble Supreme Court in the case of CIT Vs. SSA‟s Emerald Meadows [(2016) 73 taxman.com 248 (SC)] and also

CHAGANTI SATYANARAYANA,,NARSAPUR vs. THE ITO,, PALAKOL

In the result, appeal filed by the assessee is allowed

ITA 244/VIZ/2017[2009-2010]Status: DisposedITAT Visakhapatnam18 May 2018AY 2009-2010

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blechaganti Satyanarayana, Vs. Ito, Ward-1, Mission High School Road, Palakol. Royapeta, Narsapur, West Godavari District. Pan No. Adjpc 5570 H (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri M.R. Bangari – Sr.DR
Section 133ASection 143(3)Section 271(1)(c)Section 274

274 r.w.s. 271 of the Act. 3. On appeal, ld. CIT(A) confirmed the penalty order passed by the Assessing Officer. 4. Ld. counsel for the assessee has submitted that the notice issued by the Assessing Officer is not clear whether notice issued under section 271(1)(c) is for concealment of income or furnished inaccurate particulars. Therefore, the notice

M.V. ANIL KUMAR REDDY, ,RAJAHMUNDRY vs. THE INCOME TAX OFFICER, WARD-1,, RAJAHMUNDRY

In the result, appeal filed by the assessee is allowed

ITA 59/VIZ/2019[2010-11]Status: DisposedITAT Visakhapatnam30 Apr 2019AY 2010-11

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem.V. Anil Kumar Reddy, Vs. Ito, Ward-1, D.No. 46-16-18, Danavaipeta, Rajamahendravaram. Rajahmundry, E.G. District. Pan No. Afnpm 0792 H (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Smt. Suman Malik – Sr.DR
Section 131Section 142(1)Section 148Section 271(1)(c)Section 274

capital gains for sale of the property have come to the notice of the assessing officer because of the efforts made by the department. Therefore, the AO has initiated the penalty proceedings u/s 271(1)(c) and issued show cause notice in the printed proforma of penalty. The AO has issued the penalty notice which reads as under : “WHEREAS

KONCHADA RAMESH BABU,SRIKAKULAM vs. THE INCOME TAX OFFICER, WARD-1,, SRIKAKULAM

In the result, appeals filed by the assessee are allowed and that of stay applications are dismissed

ITA 123/VIZ/2019[2013-14]Status: DisposedITAT Visakhapatnam03 May 2019AY 2013-14

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bles.A. No. 09 & 10/Viz/2019 & Ita Nos. 123 & 124/Viz/2019 (Asst. Year : 2013-14 & 2014-15) Konchada Ramesh Babu, Vs. Ito, Ward-1, D.No. 10-1-15, Prop. Srikakulam. Koteswara Steel Centre, 7 Road Junction, Gudi Veedhi, Srikakulam. Pan No. Aeppk 6505 F (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Smt. Suman Malik – Sr.DR
Section 133ASection 143(3)Section 271(1)(c)Section 274

capital gains for sale of the property have come to the notice of the assessing officer because of the efforts made by the department. Therefore, the AO has initiated the penalty proceedings u/s 271(1)(c) and issued show cause notice in the printed proforma of penalty. The AO has issued the penalty notice which reads as under : “WHEREAS

KONCHADA RAMESH BABU,SRIKAKULAM vs. THE INCOME TAX OFFICER, WARD-1,, SRIKAKULAM

In the result, appeals filed by the assessee are allowed and that of stay applications are dismissed

ITA 124/VIZ/2019[2014-15]Status: DisposedITAT Visakhapatnam03 May 2019AY 2014-15

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bles.A. No. 09 & 10/Viz/2019 & Ita Nos. 123 & 124/Viz/2019 (Asst. Year : 2013-14 & 2014-15) Konchada Ramesh Babu, Vs. Ito, Ward-1, D.No. 10-1-15, Prop. Srikakulam. Koteswara Steel Centre, 7 Road Junction, Gudi Veedhi, Srikakulam. Pan No. Aeppk 6505 F (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Smt. Suman Malik – Sr.DR
Section 133ASection 143(3)Section 271(1)(c)Section 274

capital gains for sale of the property have come to the notice of the assessing officer because of the efforts made by the department. Therefore, the AO has initiated the penalty proceedings u/s 271(1)(c) and issued show cause notice in the printed proforma of penalty. The AO has issued the penalty notice which reads as under : “WHEREAS

D. PADMANABHAIAH,SECUNDERABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE,, VIJAYAWADA

In the result, appeal filed by the assessee is allowed

ITA 479/VIZ/2018[2007-08]Status: DisposedITAT Visakhapatnam10 Apr 2019AY 2007-08

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bled. Padmanabhaiah, Vs. Dcit, Central Circle, Flat No. 201, Manjeera Homes, Vijayawada. Phase-Ii, Near More Super Market, East Anandbagh, Malkajigiri, Secunderabad. Pan No. Afvpd 7527 H (Appellant) (Respondent)

For Appellant: Shri C. Subrahmanyam, FCAFor Respondent: Shri D.K. Sonawal – Sr.DR
Section 132Section 271(1)(c)Section 274Section 68

capital gains for sale of the property have come to the notice of the assessing officer because of the efforts made by the department. Therefore, the AO has initiated the penalty proceedings u/s 271(1)(c) and issued show cause notice in the printed proforma of penalty. The AO has issued the penalty notice which reads as under : “WHEREAS

MARPUDI PUSHKALA RANI ,SECUNDERABAD vs. INCOME TAX OFFICER-WARD-2(1),, GUNTUR

In the result, appeal filed by the assessee is allowed

ITA 468/VIZ/2018[2008-2009]Status: DisposedITAT Visakhapatnam07 Dec 2018AY 2008-2009

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blesmt. Marpudi Pushkala Rani, Vs. Ito, Ward-2(1), D.No. 12-7-110/2, Flat No. 304, Guntur. Smr Vinay Elegance, Kesavanagar Colony, Mettuguda, Secunderabad. Pan No. Awmpm 8121 E (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Smt. Suman Malik – Sr.DR
Section 148Section 2(22)(e)Section 271(1)(c)Section 274

capital gains for sale of the property have come to the notice of the assessing officer because of the efforts made by the department. Therefore, the AO has initiated the penalty proceedings u/s 271(1)(c) and issued show cause notice in the printed proforma of penalty. The AO has issued the penalty notice which reads as under : “WHEREAS

PUSARLA SUBHASH,,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-1(4), VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

ITA 167/VIZ/2018[2013-14]Status: DisposedITAT Visakhapatnam10 Aug 2018AY 2013-14

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blepusarla Subhash, Vs. Ito, Ward-1(4), D.No. 15-13-6, Maharanipeta, Visakhapatnam. Krishna Nagar, Visakhapatnam. Pan No. Aigpp 2446 K (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri K.C. Das – Sr.DR
Section 143(3)Section 271(1)(c)Section 274

capital gains for sale of the property have come to the notice of the assessing officer because of the efforts made by the department. Therefore, the AO has initiated the penalty proceedings u/s 271(1)(c) and issued show cause notice in the printed proforma of penalty. The AO has issued the penalty notice which reads as under : “WHEREAS

DR. BALABHADRA SUJATHA,,RAJAHMUNDRY vs. THE DY. CIT,, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are allowed

ITA 250/VIZ/2017[2004-2005]Status: DisposedITAT Visakhapatnam23 Feb 2018AY 2004-2005

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri P.S. Murthy – Sr.DR
Section 132Section 133ASection 143(3)Section 153ASection 271(1)(c)

capital gains for sale of the property have come to the notice of the assessing officer because of the efforts made by the department. Therefore, the AO has initiated the penalty proceedings u/s 271(1)(c) and issued show cause notice in the printed proforma of penalty. The AO has issued the penalty notice which reads as under : “WHEREAS

DR. BALABHADRA SUJATHA,,RAJAHMUNDRY vs. THE DY. CIT,, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are allowed

ITA 249/VIZ/2017[2003-2004]Status: DisposedITAT Visakhapatnam23 Feb 2018AY 2003-2004

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri P.S. Murthy – Sr.DR
Section 132Section 133ASection 143(3)Section 153ASection 271(1)(c)

capital gains for sale of the property have come to the notice of the assessing officer because of the efforts made by the department. Therefore, the AO has initiated the penalty proceedings u/s 271(1)(c) and issued show cause notice in the printed proforma of penalty. The AO has issued the penalty notice which reads as under : “WHEREAS

B.ADINARAYANA,,ANAKAPALLE vs. THE ITO,, ANAKAPALLE

In the result, appeal filed by the assessee is allowed

ITA 361/VIZ/2015[2003-04]Status: DisposedITAT Visakhapatnam12 Jan 2018AY 2003-04

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleb. Adinarayana, Vs. Ito, Ward-1, S/O Ramu Naidu, D.No. 5-9-32, Anakapalle. Lakshmi Devi Peta, Anakapalle-1. Pan No. Aetpb 5443 B (Appellant) (Respondent)

For Appellant: Shri C.V.S. Murthy – FCAFor Respondent: Shri R.S. Aravindakshan – Sr.DR
Section 271(1)(c)Section 274

capital gains for sale of the property have come to the notice of the assessing officer because of the efforts made by the department. Therefore, the AO has initiated the penalty proceedings u/s 271(1)(c) and issued show cause notice in the printed proforma of penalty. The AO has issued the penalty notice which reads as under : “WHEREAS

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. CHILUKURI HOUSING PROJECTS PRIVATE LIMITED,, VISAKHAPATNAM

In the result, appeal filed by the Revenue as well as cross objection filed by the assessee is dismissed

ITA 243/VIZ/2018[2011-2012]Status: DisposedITAT Visakhapatnam25 Jan 2019AY 2011-2012

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleacit, Circle-1(1), Vs. M/S. Chilukuri Housing Projects Visakhapatnam. Pvt. Ltd., 9-21-17/2, Ground Floor, Street No. 21, Cbm Compound, Visakhapatnam. Pan No. Aadcc 1027 D (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri V. Appala Raju – Sr.DR
Section 133ASection 143(3)Section 271Section 271(1)(c)

274, dated 28/02/2014, therefore, prayed that same has to be quashed. The ld. CIT(A) by considering the decision of the Hon'ble Jurisdictional High Court in the case of Smt. Baisetty Revathi (supra) held that notice issued by the Assessing Officer under section 271 is invalid and cancelled the penalty levied by the Assessing Officer. For the sake