Provision of section 69A of IT Act 1961 for unexplained cash
Last updated: 05 August 2013
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
On the facts and in the circumstances of the cazse and in law, the Ld. Commissioner of Income Tax (appeals) has erred in confirming the penalty of Rs.6,89,620/- u/s 271(1) (c) ignoring the facts that in the quantum proceeding the appellant has already got the relief to the extent of 9,59,051/- against the assessed income of Rs.17,24,051/- and also ignoring the fact that the sustained on of Rs.7,65,000/- also does not involve any furnishing of inaccurate particulars of income or furnishing inaccurate income and therefore it was prayed before the Ld. CIT (A) that no penalty is leviable in the present case.”
Citation :
Late Shri Mukhtiar Singh Through Legal Heir and Son Shri Gurdayal Singh. 23/A-7, Sector-16, Rohini. New Delhi. PAN: AIWPM7485P (APPELANT) Vs. ACIT Circle-21(1)New Delhi. Heir and Son Shri Gurdayal Singh. 23/A-7, Sector-16,Rohini. New Delhi. PAN: AIWPM7485P (RESPONDENT)
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Published in Income Tax
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