Search: penalty u/s 271

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Section 271(1)(c)84 Section 143(3)37 Section 14729 Section 14827 Addition to Income27 Section 153A24 Disallowance24 Penalty21 Section 143(2)

VENKATA RAMA SATYANARAYANA VARMA VEGESNA,VISAKHAPATNAM vs. DCIT/ACIT, CIRCLE-3(1), VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

ITA 165/VIZ/2022[2011-12]Status: DisposedITAT Visakhapatnam14 Jul 2023AY 2011-12

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.165/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2011-12) Venkata Rama Satyanarayana Varma Vs. National E-Assesment Centre, Vegesna Delhi 10-50-2, Lazarus Bangalow (Dcit/Acit Waltair Main Road Circle-3(1) Visakhapatnam Visakhapatnam) [Pan : Aagts9608E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shrin C.M.Ravi Prasad, Ar प्रत्यधथी की ओर से / Respondent By : Shri On Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 24.04.2023 घोर्णध की तधरीख/Date Of Pronouncement 14.07.2023 : आदेश /O R D E R Per Shri Duvvuru Rl Reddy: This Appeal Is Filed By The Assessee Against The Order Of Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi In Din & Order No. Itba/Nfac/S/250/2022- 23/1043814974(1) Dated 12.07.2022, Arising Out Of The Assessment Order Passed By The Assessing Officer (Ao) U/S 271(1)(C) Of The Income Tax Act, 1961 (In Short “Act”) Dated 14.02.2022 For The Assessment Year (A.Y.) 2011-12. 2

For Appellant: Shrin C.M.Ravi Prasad, ARFor Respondent: Shri ON Hari Prasada Rao, DR

Section 143(3)Section 2(22)(e)Section 271(1)(c)

271(1)(c) of the IT Act for not reporting deemed dividend u/s 2(22)(e) of Rs.19,99,999/- while filing return of income. Hence, penalty at 100% of tax sought to be evaded for not reporting the deemed dividend, i.e. Rs. 6,18,000/- has been levied which is ot justified on the part of the Assessing Officer

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VENKATA RAMA SATYANARAYANA VARMA VEGESNA,VISAKHAPATNAM vs. DCIT/ACIT, CIRCLE-3(1), VISAKHAPATNAM

VENKATA RAMA SATYANARAYANA VARMA VEGESNA,VISAKHAPATNAM vs. DCIT/ACIT, CIRCLE-3(1), VISAKHAPATNAM

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), VIJAYAWADA vs. SRI SAI ENGINEERING AND DRILLING, VIJAYAWADA

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

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

SRI SURYA ANJANEYA INDUSTRIES,VIZIANAGARAM vs. INCOME TAX OFFICER, WARD-2, VIZIANAGARAM

VISAKHAPATNAM INDUSTRIAL WATER SUPPLY COMPANY LIMITED,VISAKHAPATNAM vs. DCIT, CIRCLE-5(1), VISAKHAPATNAM

MS USHA TUBUS & PIPES PVT LTD.,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

THE VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ASST. CIT,, VISAKHAPATNAM

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY,, VISAKHAPATNAM

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ADDL. CIT.,, VISAKHAPATNAM

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT, CIRCLE - 1(1),, VISAKHAPATNAM

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY, , VISAKHAPTNAM

THE ACIT, CIRCLE - 1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY,, VISAKHAPATNAM

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

VISAKHAPATNAM PORT AUTHORITY, ,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM

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

POTLURI PHANENDRA BABU,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-3(2), VISAKHAPATNAM