2026 (6) TMI 475

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.... Tax Act. 2. There was delay of 209 days in filing of this appeal. The assessee has filed a condonation application along with an affidavit. It has been explained that the assessee is a senior citizen 74 years of age living with her husband aged about 80 years. Their children are settled out of India and there is nobody in the family to help them in the technical matters pertaining to Income-tax proceedings. The assessee is not used to online portal of the department and the order of the CIT(A) received on the email was overlooked by the assessee due to her old-age. Subsequently, when the demand matter was pursued by the Department, the assessee has filed the present appeal and in the process there was delay of 209 days. Considering the ....

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....ond appeal before us. The following grounds have been taken in this appeal: On the facts and circumstances of the case and in law - 1. The Ld. NFAC/CIT(A) has erred upholding penalty u/s 270A. 2. The Ld. NFAC/CIT(A) has erred not appreciating the facts that appellant consultant has made bona fide mistake by not reducing the capital loss amount from Business income as it included in Profit and loss account. 3. The ld. NFAC/CIT(A) has erred in holding it as under reported income resultant to misreporting and charged 200% penalty. Without prejudice it should be held as under reported income and charged 50% penalty. The appellant craves leave to add to, alter amend, very, modify or delete any of the ....

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....s of misreporting of income referred to in sub-section (8) shall be the following, namely:- (a) misrepresentation or suppression of facts; (b) failure to record investments in the books of account; (c) claim of expenditure not substantiated by any evidence; (d) recording of any false entry in the books of account; (e) failure to record any receipt in books of account having a bearing on total income; and (f) failure to report any international transaction or any transaction deemed to be an international transaction or any specified domestic transaction, to which the provisions of Chapter X apply. 9 In view of the above specific provision, the Assessing Officer, while imposing the pena....