Bishamber Dayal vs. ITO
Case No: ITA No.4553/Del/2024
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘A’
Date: 3/5/2025
Parties Involved
AppellantBishamber Dayal
RespondentITO, Ward-2, Rewari
Facts Summary
The assessee, Bishamber Dayal, originally filed his return of income declaring total income which included interest on enhanced compensation. He claimed a 50% deduction under section 57 of the Income Tax Act, 1961. Later, he revised his return claiming the interest income as exempt under section 10(37) of the Act, relying on the judgment of the Hon’ble Supreme Court in the case of CIT vs. Ghanshyam (HUF). Subsequently, a notice under section 148 of the Act was issued, and the assessee filed a re…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the penalty under section 270A of the Act was correctly levied.
Precedents Relied Upon
4 precedents cited in this judgement.