Asst CIT 32 (1), Mumbai Shri. Hanvant Singh Jabbar Singh Ranawat, MUMBAI

Last updated: 27 May 2021

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The Income Tax Appellate Tribunal (ITAT) Mumbai has dismissed an appeal by the revenue concerning a penalty levied against Hanvant Singh Jabbar Singh Ranawat for the assessment year 2012-13. The penalty was initially imposed by the Assessing Officer (AO) based on estimated additions for bogus purchases but was later deleted by the Commissioner of Income-Tax (Appeals). The Tribunal upheld the deletion, stating that penalties cannot be sustained on mere estimated additions and that the revenue's appeal did not meet the monetary threshold set by CBDT Circular No. 17/2019.

Court :
ITAT Mumbai

Brief :
Aforesaid appeal by revenue for Assessment Year [AY] 2012-13 contest the order of Ld. Commissioner of Income-Tax (Appeals)-44, Mumbai [CIT(A)] dated 05/08/2019 which has deleted the penalty of Rs.14,302/- u/s 271(1)(c) as levied by Ld. AO vide penalty order dated 11/09/2015. Though none appeared for assessee, however, the material on record was sufficient enough for disposal of the appeal.

Citation :
I.T.A. No.6882/Mum/2019

Daily Limit Reached