Sunil Waman Choudhary vs. Deputy Commissioner of Income- Tax Circle- 2

Parties Involved

Facts Summary

The assessee is an individual engaged in the business of builders and developers, also receiving remuneration and interest from various firms. During the assessment year under consideration, the assessee had income from other sources including interest on fixed deposits and capital gains. The Assessing Officer found a discrepancy in the sale value of a property, leading to an addition under section 50C of the Income Tax Act and a penalty under section 271(1)(c). The Commissioner of Income-tax (Appeals) did not admit the appeal due to delay, which the appellant sought to have condoned. The appellant cited medical and other issues as reasons for the delay.…

Legal Issues

• 1. Non-condonation of delay in filing appeal under section 250 of the Income-tax Act, 1961
• 2. Levy of Penalty u/s 271(1)(c) of the Income-tax Act, 1961

Judgment Outcome

Decided in favour of Assessee.

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