2025 (2) TMI 1080

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....For the Appellant : Shri P.F. Jain, A.R. For the Respondent : Smt. Mamta Singh, Sr. DR ORDER PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER: This appeal has been filed by the Assessee against the order passed by the Ld. Commissioner of Income Tax (Appeals), (in short "Ld. CIT(A)"), National Faceless Appeal Centre (in short "NFAC"), Delhi vide order dated 30.09.2024 passed for A.Y. 2017-18. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... The appellant craves, to leave, to add, to alter, and or modify any grounds of appeal." 3. The brief facts of the case are that during the course of assessment, the Assessing Officer added a sum of Rs. 9,09,100/- towards unexplained expenditure made by the assessee through his credit card. Further, the Assessing Officer also imposed penalty under Section 272A(1)(d) of the Act on account of def....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t for the purpose of earning revenue. The remedy available with the Assessing Officer lies in framing of best judgment assessment under the provisions of Section 144 of the Act, as he did in the present and not to impose multiple penalties under Section 272A(1)(d) of the Act, again and again. Accordingly, levy of penalty is directed to be restricted to Rs. 10,000/-. In the case of Tarlok Singh Thr....