Ganpati Industrial Spares Pvt. Ltd. vs ACIT Circle, Amravati

Parties Involved

Facts Summary

The assessee, Ganpati Industrial Spares Pvt. Ltd., has filed an appeal against the order of the Commissioner of Income Tax (Appeals)/NFAC, Delhi, dated 10.12.2025, which arose from a penalty order dated 17.04.2025 under section 271(1)(c) of the Income Tax Act, 1961. The penalty was levied for the alleged concealment of income of Rs. 14,00,000/- at Rs. 4,62,000/-. The assessee challenged the validity of the assessment proceedings, claiming that the penalty order was time-barred under section 275(1)(c) of the Act.…

Legal Issues

• 1. Whether the penalty order passed on 17.04.2025 is barred by limitation under section 275(1)(c) of the Act?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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