Shamji Kanji Zaru vs DCIT
Case No: I.T.A. No. 6084 to 6090/Mum/2025
Court: Income Tax Appellate Tribunal, 'F' Bench, Mumbai
Date: 1/28/2026
Parties Involved
appellantShamji Kanji Zaru
respondentDCIT
Facts Summary
The assessee, Shamji Kanji Zaru, is an individual engaged in the telecom business under the name 'Raj Telecom'. He is not maintaining books of accounts and has declared profit on a presumptive basis under section 44AD of the Income Tax Act, 1961. The assessment for the years 2015-16 to 2021-22 was completed under section 153C read with section 144 of the Act, accepting the returned income as such. However, the Assessing Officer (AO) levied a penalty of Rs. 20,000 for each year due to the assesse…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the penalty of Rs. 20,000 levied under section 271(1)(b) of the Income Tax Act, 1961 is justified.
- 2. Whether the penalty of Rs. 20,00,000 levied under section 272A(1)(d) of the Income Tax Act, 1961 is justified.
Precedents Relied Upon
8 precedents cited in this judgement.