The Hisar Leading Bank Co-op Non-Agri Thrift & Credit Society vs ITO, Ward 1, Hisar

Parties Involved

Facts Summary

These three appeals by the Assessee are arising out of the respective orders of the Ld. Ld. CIT(A)/NFAC, Delhi confirming the levy of penalty made by the AO u/s. 271(1)(b) amounting to Rs. 20,000/-; levy of penalty made u/s. 271(1)(c) amounting to Rs. 2,61,07,246/- and levy of penalty made u/s. 271F amounting to Rs. 5,000/- for the relevant assessment year 2014-15.…

Legal Issues

• 1. Levy of penalty u/s. 271(1)(b) amounting to Rs. 20,000/-
• 2. Levy of penalty u/s. 271(1)(c) amounting to Rs. 2,61,07,246/-
• 3. Levy of penalty u/s. 271F amounting to Rs. 5,000/-

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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