Acid 19(2), Mumbai Shri Kunal N Shan, Mumbai

Last updated: 27 May 2021
Quick Summary
The Income Tax Appellate Tribunal dismissed an appeal by the revenue concerning assessment year 2006-07. The appeal challenged the deletion of a penalty amounting to Rs. 103.18 Lacs imposed on Shri Kunal N. Shah. The original addition, which formed the basis for the penalty, had previously been deleted by the Tribunal. Consequently, the penalty was deemed unsustainable.

Court :
ITAT Mumbai

Brief :
Aforesaid appeal by revenue for Assessment year [AY in short] 2006-07 contest the order of Ld. Commissioner of Income Tax (Appeals)-29, Mumbai [in short CIT(A) ] dated 21/08/2019 which has deleted penalty u/s 271(1)(c) for Rs.103.18 Lacs as levied by Ld. AO vide penalty order dated 12/06/2015.

Citation :
I.T.A. No.6781/Mum/2019

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