STIC Travels Pvt. Ltd. Vs Deputy Commissioner of Income Tax, Circle-24(2)

Parties Involved

Facts Summary

The captioned appeals have been preferred by the assessee, STIC Travels Pvt. Ltd., against the order dated 28.07.2025 of the Learned Commissioner of Income Tax (Appeals)-31, New Delhi, arising out of assessment orders dated 22.03.2019 passed under section 271(1)(c) of the Income Tax Act, 1961, pertaining to Assessment Years 2013-14 and 2014-15. The appeals involve the issue of levy of penalty. The Assessing Officer imposed a penalty on the grounds of default revenue expenses, which was confirmed by the CIT(A). The assessee argued that there was no wilful concealment or submission of inaccurate particulars of income, and that the issue of default revenue expenditure was debatable.…

Legal Issues

• 1. Whether the penalty under section 271(1)(c) of the Income Tax Act, 1961, is applicable for the Assessment Years 2013-14 and 2014-15.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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