2025 (3) TMI 2276

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....KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2010-11 arises out of an order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 31-05-2024 in the matter of penalty levied by Ld. Assessing Officer [AO] u/s. 271(1)(c) of the Act for Rs. 1.77 Lacs on 22-06-2018. At the time of hearing, none app....

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....ereas the same represent gift from family members. Considering the same, the assessee accepted the assessment and chose not to file any further appeal. Nevertheless, the same would not justify the impugned penalty. However, Ld. CIT(A0 rejected the same against which the assessee is in further appeal before us. 3. It is quite clear that the addition of Rs. 0.12 Lacs is nothing but estimated disa....