Income Tax Appeal No. 1877/CHNY/2024

Parties Involved

Facts Summary

The assessee, Shri. Murugesan Thulasimani, did not file an income return. The assessment proceedings were completed under section 144 of the Act on 06.12.2019. Additions of Rs.24,13,000/- under section 69A were knocked down in appeal by the Commissioner of Income Tax (Appeals). However, a penalty under section 271AAC(1) of the Income Tax Act, 1961 was levied. The assessee appealed against the penalty levied, which was dismissed by the Commissioner of Income Tax (Appeals) as time-barred. The assessee is in further appeal before the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the assessee's appeal against the penalty levied is time-barred?

Judgment Outcome

Decided in favour of Assessee.

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