THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), VIJAYAWADA vs. SRI SAI ENGINEERING AND DRILLING, VIJAYAWADA
In the result, Cross Objection filed by the assessee is allowed and the appeal of the Revenue is dismissed
ITA 63/VIZ/2025[2009-10]Status: DisposedITAT Visakhapatnam15 Sept 2025AY 2009-10
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.63/Viz/2025 (निर्धारण वर्ा / Assessment Year: 2009-10) Assistant Commissioner Of Vs. Sri Sai Engineering & Drilling, Income Tax, D. No. 54-18-26, B-3, Circle-2(1), Second Lane, Lic Colony, Vijayawada. Vijayawada. Pan:Abafs0788A (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) C.O. No. 06/Viz/2025 (In आयकर अपील सं./ I.T.A. No.63/Viz/2025) (निर्धारण वर्ा / Assessment Year: 2009-10) Sri Sai Engineering & Drilling, Vs. Assistant Commissioner Of D. No. 54-18-26, B-3, Second Income Tax, Lane, Lic Colony, Circle-2(1), Vijayawada. Vijayawada. Pan:Abafs0788A (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent)
For Appellant: Sri GVN Hari, AdvocateFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 143(3)Section 271(1)(c)
U/s.
271(1)(c) of the Act should not be levied for furnishing inaccurate particulars of income. In response, the assessee furnished its reply however, the Ld. AO did not consider the assessee’s reply and observed that by virtue of part (B) of Explanation-1 to section 271(1)(c) of the Act, penalty
