Mrs.Pratibha Ashokumar Godha Vs The ITO, Ward-1

Parties Involved

Facts Summary

The assessee, Mrs.Pratibha Ashokumar Godha, filed an appeal against the order of the Commissioner of Income Tax (Appeal)-7, National Faceless Appeal Centre (NFAC), Delhi dated 27.04.2024 for the Asst.Year 2013-14 passed under section 250 of the Income Tax Act, 1961. The assessee challenged the penalty levied by the Assessing Officer (AO) of Rs.94,450/- invoking provisions of s. 271(l)(c) of the Act. The assessee argued that she neither concealed income nor furnished inaccurate particulars of income. The assessee also contested the applicability of the penalty under section 271(l)(c) of the Act. Additionally, the assessee argued that the penalty was wrongly levied as the AO did not specify whether the penalty was for 'concealment of income' or 'furnishing of inaccurate particulars of such income'.…

Legal Issues

• 1. Penalty levied under section 271(l)(c) of the Income Tax Act, 1961
• 2. Eligibility for exemption under section 54 of the Income Tax Act, 1961

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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