Mr. Akil Abbas Rassai Vs. DCIT Circle-22(1)
Parties Involved
Facts Summary
The present appeal has been preferred by the assessee against the order dated 16.10.2025 passed by the National Faceless Appeal Centre, Delhi, whereby the penalty of Rs.16,05,922/- levied under section 270A of the Income-tax Act, 1961, for the assessment year 2018-19, has been confirmed. The penalty in question has been levied in respect of an addition of Rs.82,35,500/- made under section 56(2)(x) of the Act. The learned counsel for the assessee brought to notice that the quantum addition under section 56(2)(x), which formed the basis for the penalty, has been set aside by the Tribunal on 02.12.2025 and remanded to the Assessing Officer for fresh adjudication.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the penalty levied under section 270A is sustainable in the absence of a final determination of under-reporting or misreporting of income.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
1 precedent cited in this judgement.
Similar Judgements
Nikhil Rajpal vs ITO
Delhi Bench ‘F’, New Delhi benchAY 2019-20AllowedS S R S MEM EDU Society Vs. Assistant Commissioner of Income-Tax
Delhi Bench benchAY 2018-19AllowedBlupex Vinimoy Private Ltd. Vs ITO, Ward-14(1), Kolkata
Kolkata Bench benchAY 2020-21AllowedIncome Tax Officer vs. M/s. Amaya Infrastructure Pvt. Ltd.
ITA No.1542/Bang/2024
C'' Bench: Bangalore benchAY 2019-20DismissedRashmi Seventilal Vakharia vs. Income Tax Officer
Mumbai “D” Bench benchAY 2018-19Allowed