2025 (6) TMI 1688

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....dl.CIT-Sr. DR ORDER PER RAJESH KUMAR, AM : These are the two appeals filed by the assessee against the order both dated 24.04.2024 passed by the ld. CIT(A), National Faceless Appeal Centre (NFAC), Delhi, for the assessment year 2011-2012 & 2012-2013. 2. In both the appeals, the assessee has raised the similar grounds of appeal. Therefore, for the sake of convenience, we shall take into....

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....Delhi, was not justified in confirming the imposition of Penalty of Rs. 344463.00, u/s 271(1)(c), in respect of addition of Rs. 1672154.00 under the head "Capital Gain", as the same addition had been just in consequence of the Appellate Order, for preceding AY of 2010-11, whereby the taxability thereof in the current year had been adjudicated. (Tax Effect: Penalty of Rs. 344463.00) ....

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....tation of law, does not, ipso facto and necessarily call for imputation of furnishing of "inaccurate particulars", unless some mala fide and evasive endeavour at the end of the Assessee/Appellant is evident. 5. Without prejudice to Ground No. 2, 3 and 4 above, the levy of Penalty under sec.271(1)(c) is not maintainable, as in the Penalty Notice, issued u/s 274, the allegation against the ....

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....s in the assessment year 2008-2009 on which the capital gain was computed at Rs. 43,76,198/-. The AO noted that since the capital gain shown by the assessee was at Rs. 27,04,044/- and, therefore, balance amount of Rs. 16,72,154/- remained to be added to the total income of the assessee and accordingly penalty proceedings u/s.271(1)(c) of the Act were initiated vide notice issued u/s.271(1)(c) r.w.....