2026 (9) TMI 380

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....'the Act'), arising out of the penalty order dated 25.08.2025 passed by Assessing Officer DCIT, Central Circle-8, New Delhi u/s 270A of Income Tax Act, 1961 for the A.Y 2023-24. 2. The grounds of appeal raised by the assessee which reads as under: "1. The Ld. AO and Ld. CIT(A) both the officers have erred in not appreciating either the facts & circumstances of the case or the submissions of appellant and has further erred in passing respective orders which is not correct in law & on facts. 2. That the appellate order dated 05/02/2025 is not a speaking order which is bad in law. 3. That mere addition of income during the assessment proceedings does not necessitate the levy of penalty u/s 270A of the Act and the ....

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.... for scrutiny assessment u/s 143(3) of the Act and the same was completed by the Ld. AO by passing order u/s 143(3) dated 25/03/2025. The Ld. AO was made addition of Rs. 13,12,997/- u/s 45 of the Act on account of Capital Gains. Subsequently penalty proceedings u/s 270A of the Act was initiated for under-reporting of income. Thereafter, the Ld. AO passed penalty order u/s 270A(8) of the Act vide penalty order dated 25.08.2025 and imposed the penalty of Rs. 4,80,532/-. 4. Being aggrieved by the aforesaid penalty order supra, the assessee filed an appeal before Hon'ble Commissioner of Income Tax (Appeals), who dismissed the appeal vide order dated 05.02.2026. 5. Being aggrieved by the aforesaid appellate order dated 05.02.2026, the ....