Income Tax Penalty Quantification Explained

Quantification of penalty is dependent upon the additions made to the income of the assessee

Quick Summary

This Income Tax Appellate Tribunal ruling clarifies that the quantification of penalties is directly linked to the additions made to an assessee's declared income. The penalty can be up to three times the amount of income concealed or inaccurately reported. The case involved an appeal concerning unexplained cash credits and was remanded for fresh consideration.

Court :
ITAT Delhi

Brief :
This appeal filed by the assessee is directed against the order dated 31.01.2018 passed by the Commissioner of Income Tax(Appeals)-23, New Delhi relating to Assessment Year 2011-12.

Citation :
ITA No. 2076/Del/2018

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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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Attached File : 1442821_4231_1627885290_ita_no_2076_del_2018_smartspace_infrastructure_pvt_ltd_vs_ito.pdf

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Judgement posted by

Poojitha Raam Vinay

Practice

I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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