DCIT, Central Circle-25, New Delhi Vs. FJM Cylinders Pvt. Ltd
Parties Involved
Facts Summary
The appeal in ITA No.1536/Del/2024 for AY 2015-16, arises out of the order of the Commissioner of Income Tax (Appeals)-29, New Delhi [hereinafter referred to as 'ld. CIT(A)'] in Appeal No. 10251/2019-20 dated 31.01.2024 against the order of assessment passed u/s 271(1)(c) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') dated 22.06.2018 by the Assessing Officer, ACIT, Circle-9 (1), New Delhi [hereinafter referred to as 'ld. AO']. The revenue raised several grounds of appeal, but the effective issue was whether the Learned CITA was justified in deleting the penalty levied under section 271(1)(c) of the Act. The Assessing Officer had not struck off the inappropriate portion in the penalty notice, which mentioned whether the assessee had concealed the particulars of income or furnished inaccurate particulars of income.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Learned CITA was justified in deleting the penalty levied under section 271(1)(c) of the Act.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
2 precedents cited in this judgement.
Similar Judgements
Jayco Promoters & Developers Pvt. Ltd vs. Income Tax Officer, Ward-13(3), Delhi
Delhi Bench benchAY 2007-08AllowedLakshit Construction Pvt Ltd Vs. ACIT
Delhi Bench benchAY 2011-12AllowedLakshit Construction Pvt Ltd Vs. ACIT
Delhi Bench benchAY 2011-12 & 2013-14AllowedSh. Mukesh Khurana vs. DCIT
Delhi Bench benchAY 2008-09AllowedSham Lal vs JCIT
Delhi “G” Bench: New Delhi benchAY 2016-17AllowedRam Garhia Cooperative Bank Ltd. vs Assistant Commissioner of Income Tax, Central Circle-63(1), New Delhi
Delhi Bench ‘F’, New Delhi benchAY 2014-15Allowed