Lakshit Construction Pvt Ltd Vs. ACIT

Parties Involved

Facts Summary

The appeal in ITA No.4352/Del/2024 for AY 2011-12 arises out of the order of the National Faceless Appeal Centre (NFAC), Delhi in Appeal No. ITBA/NFAC/S/250/2024-25/1068276891(1), Delhi dated 03.09.2024 against the order of assessment passed u/s 271(1)(c) of the Income-tax Act, 1961 dated 02.05.2017 by DCIT, Circle-1, Faridabad. The assessee had raised several grounds challenging the levy of penalty under section 271(1)(c) of the Act for both the years. The preliminary issue to be decided in these appeals is as to whether the penalty under section 271(1)(c) of the Act is leviable when the ld. AO in the penalty notice had not struck off the inappropriate portion as to whether the assessee had concealed the particulars of income or furnished inaccurate particulars of income.…

Legal Issues

• 1. Whether the penalty under section 271(1)(c) of the Act is leviable when the ld. AO in the penalty notice had not struck off the inappropriate portion as to whether the assessee had concealed the particulars of income or furnished inaccurate particulars of income.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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