Hans Raj vs. Joint Commissioner of Income Tax
Case No: ITA No.3937/DEL/2023 (A.Y.2017-18)
Court: Income Tax Appellate Tribunal, Delhi Bench 'SMC', Delhi
Date: 3/5/2025
Parties Involved
appellantHans Raj
respondentJoint Commissioner of Income Tax
Facts Summary
The assessee, Hans Raj, transferred a residential house to his mother-in-law, Smt. Chander Kala, without any financial transaction. The property was originally purchased by Hans Raj's father-in-law, with part of the purchase consideration sourced through a loan taken by Hans Raj from Punjab National Bank. In 2016, the property was transferred to Smt. Chander Kala. The sale deed erroneously mentioned a cash consideration of Rs. 24,21,000/-. The Assessing Officer levied a penalty under Section 271…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the delay in filing the appeal is condoned.
- 2. Whether the penalty under Section 271D of the Income Tax Act, 1961, is justified.
Precedents Relied Upon
4 precedents cited in this judgement.