Niripraj Singh Sohal vs ITO Ward
Parties Involved
Facts Summary
The assessee, Niripraj Singh Sohal, did not file his return for the Assessment Year 2015-16 despite having salary income, interest income, and other transactions reflected on the Insight portal of the department. Consequently, the Assessing Officer (AO) issued a notice under section 148 of the Income Tax Act, 1961. In response, the assessee filed a return declaring income of Rs. 33,56,127/-. The assessment was completed at the same income, and a penalty under section 271(1)(c) was imposed for concealment of income. The penalty amount was Rs. 8,56,794/-, computed at 100% of the tax sought to be evaded. The assessee appealed this decision before the Commissioner of Income Tax (Appeals) (CIT(A)), which was dismissed. Aggrieved by this, the assessee filed the present appeal before the Tribunal.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the penalty of Rs. 8,56,794/- under section 271(1)(c) for concealment of income is maintainable.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
3 precedents cited in this judgement.
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