2025 (12) TMI 283

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....e : Dr. Ranjit Kaur, Addl. CIT Sr. DR ORDER PER RAJPAL YADAV, VP The assessee is in appeal before the Tribunal against the order of the ld. Commissioner of Income Tax (Appeals) [in short 'the CIT(A)'] dated 29.03.2025 passed for assessment year 2014-15. 2. The grievance of the assessee is that ld.CIT (Appeals) has erred in confirming the levy of penalty amounting to Rs. 16,24,773/- imp....

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....t assessment order was challenged by the assessee and ultimately dispute travelled upto the Tribunal. The ITAT has set aside the assessment order in ITA No.275/CHD/2019 vide its order dated 24.05.2022. The AO has passed a fresh assessment order on 27.02.2024 u/s 143(3) read with Section 254 of the Act. In this assessment order, AO has accepted the returned income declared by the assessee, hence, n....

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....) in the cases referred to in clause (c) or clause (d), in addition to tax, if any, payable by him, a sum which shall not be less than, but which shall not exceed three times, the amount of tax sought to be evaded by reason of the concealment of particulars of his income or fringe benefits or the furnishing of inaccurate particulars of such income or fringe benefits. 6.1 A perusal of the above ....