2026 (5) TMI 1136

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....y, Sr. DR ORDER PER RENU JAUHRI, ACCOUNTANT MEMBER: The above captioned appeal is preferred by the assessee against the order dated 30.10.2025, passed by CIT(A)/NFAC, Delhi u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as "the Act") for A.Y. 2017-18. 2. The assessee's has raised following grounds of appeal: "1 On the facts and circumstances of the case and in la....

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....documents and papers as may be considered necessary either before or during the hearing." 3. Brief facts are that the assessee had filed her return for A.Y. 2017-18 on 30.07.2017 declaring income of Rs.4,53,27,960/-. The case was selected for scrutiny. Ld. AO noted that the assessee had declared long term capital gain (LTCG) of Rs.4,16,03,657/- on sale of jewellery. In order to examine the LTCG....

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....nalty order before ld. CIT(A) who dismissed the same vide order dated 31.10.2025. Further aggrieved, the assessee has filed appeal before the Tribunal. 4. Before us, ld. AR has submitted that the AO has not mentioned the specific clause of 270A invoked by him for levying the penalty in the notice as well as the penalty order. He further submitted that the issue is covered in favour of the asses....

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....y notice/order, the AO has specified the exact clause of section 270A(2) regarding under-reporting of income which has been invoked in this case. 4.1 Ld. DR on the other hand has strongly relied on the orders of the lower authorities and pointed out that the assessee did not file appeal against the addition confirmed by ld. CIT(A) and therefore, it is clearly a case of under-reporting of income....