24 results for “penalty u/s 271”+ Long Term Capital Gainsclear
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In the result, appeal of the assessee is allowed
Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A. (It). No.262/Viz/2025 (निर्धारण वर्ा/ Assessment Year: 2015-16) Aravinda Bhupathiraju Vs. Asst. Cit (International Taxation) Rep. By. Gpa Holder Income Tax Office, Infinity Towers, K.A.R. Bahadur Sri Raja Sankaramatam Road Falt No. 502, Sky Aditya Apartment Visakhapatnam- 530016 Gitams Road, Yendada Andhra Pradesh Visakhapatnam – 530045 Andhra Pradesh [Pan:Bjopb0898P] (अपीलधर्थी/Appellant) (प्रत्यर्थी/Respondent) करदाता का प्रतततितित्व/ Assessee Represented By : Smt A. Aruna, Advocate राजस्व का प्रतततितित्व/ Department Represented By : Dr.Aparna Villuri, Sr. Ar
gain adopting cost of acquisition and improvement at Rs.79,60,200/-. Ld. AO thereafter passed a consequential order dated 04.04.2025 determining the Long-Term Capital Loss at Rs.20,00,615/-. However, Ld. AO initiated penalty proceedings under section 271(1)(c) of the Act. Ld. AO issued show-cause notice calling for objections for levying of penalty. Since assessee