Punjab Metal Store - Appeal of the assessee is allowed as penalty charged has been deleted

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Last updated: 09 February 2021
Quick Summary
The Income Tax Appellate Tribunal has allowed the appeal filed by M/s. Punjab Metal Store. The tribunal ruled to delete the penalty of Rs. 6,09,970 that had been confirmed by the CIT (Appeals). This penalty was originally levied by the Income Tax Officer under Section 271(1)(c) of the Income Tax Act for the assessment year 2008-09.

Court :
ITAT New Delhi

Brief :
This appeal is filed by the assessee against the order of the ld. CIT (Appeals)-20, New Delhi, dated 18.03.2019 wherein the ld. CIT (Appeals) has confirmed the levy of the penalty of Rs.6,09,970/- under Section 271(1)(c) of the Income Tax Act, 1961 (the Act) levied by the Income Tax Officer, Ward 63 (3) New Delhi, dated 29.09.2016 for the Assessment Year 2008-09.

Citation :
ITA No. 3820/Del/2019

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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