2025 (3) TMI 1814

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.... the Respondent : Dr. M.D. Vijay Kumar, JCIT ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER: This appeal filed by the assessee is directed against the order dated 12.09.2024 passed by the ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi for the assessment year 2017-18. 2. The assessee raised 5 grounds of appeal, amongst which, the only issue ema....

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.... Supreme Court held that no penalty could be levied without recording any satisfaction. He prayed to allow the ground of appeal and cancel the penalty imposed therein. 4. The ld. DR Dr. M.D. Vijay Kumar, JCIT submits that the Assessing Officer made addition under section 50C of the Act being the difference between the total consideration and the stamp duty value to an extent of Rs..39,950/-. Th....

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.... v. Jai Laxmi Rice Mills Ambala City (supra), the Hon'ble Supreme Court was pleased to uphold the decision of the Hon'ble High Court concerning the proposition of law laid down in so far as whether the penalty under section 271D of the Act is leviable or not without there being any satisfaction. We find that the Hon'ble Supreme Court was pleased to dismiss the Revenue's appeal by holding that no p....