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

Last updated: 18 August 2021
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)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

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