2026 (3) TMI 800

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....Poonam Sharma, CIT DR ORDER PER MANISH AGARWAL, AM : The present appeal is filed by assessee against the order dated 19.09.2025 by Ld. Commissioner of Income Tax (A), NFAC, Delhi ["Ld. CIT(A)"] in Appeal No. NFAC/2017-18/10101141 passed u/s 250 of the Income Tax Act, 1961 ["the Act"] arising out of assessment order dated 26.03.2021 passed u/s 143(3) r.w.s. 143(3A) & 143(3B) of the Act per....

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....d for 03 types of subsidy:- (i) State Government subsidy on capital investment (ii) Exemption from luxury tax for certain period and (iii) Central Government subsidy on account of deduction u/s 80-IC of the Act. 6. Since the assessee had established new undertaking in the shape of hotel, it claimed deduction u/s 80-IC which was disallowed for the reason that assessee ....

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....e first time in AY 2013-14 which was disallowed and the assessee has failed in appellate proceedings also. Despite of this fact, assessee is regularly claiming deduction u/s 80-IC which was disallowed in subsequent Assessment years also. As per Ld. CIT DR, the assessee knowingly claimed the deduction u/s 80IC when such claim was denied in earlier years therefore, it is willful attempt made by the ....

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....y proceedings were initiated penalty be levied u/s 270A of the Act. It is further observed that in the assessment order, before initiating the penalty proceedings, satisfaction was recoded for under reporting as a consequence of mis-reporting of income however, the penalty was levied u/s 270A of the Act for under reporting of income. 11. In view of these facts, in our considered view, penalty l....