TaxTMI 
TaxTMI 
2025 (4) TMI 2036
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....llant : Shri Rasesh Shah, C.A. For the Respondent : Shri Mukesh Jain, Sr. DR ORDER PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER: This appeal has been filed by the Assessee against the order passed by the Ld. Commissioner of Income Tax (Appeal), (in short "Ld. CIT(A)"), National Faceless Appeal Centre (in short "NFAC"), Delhi vide order dated 29.07.2024 passed for A.Y. 2017-18. 2. The a....
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.... trading of edible oil and sugar. There was a survey under section 133A on 09.03.2017 on the assessee, during which incriminating materials were found and impounded. Upon reviewing the books of accounts, the Assessing Officer discovered that the assessee had a cash balance of Rs. 23,79,554/- as of 08.11.2016, which included Rs. 19,37,511/- received during the period from 01.04.2016 to 08.11.2016. ....
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....tiple show-cause notices issued to the assessee, no response was received from the assessee. In view of the repeated non-compliance, a penalty of Rs. 50,000/- was levied under section 272A(1)(d) of the Income Tax Act for failing to respond to notices on five occasions. 4. In appeal, Ld. CIT(Appeals) dismissed the appeal of the assessee on account of inordinate delay in filing of appeal. 5. B....
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....-2015], the ITAT held that penalty under section 271(1)(b) cannot be imposed for each and every notice issued under section 143(2), which remained not complied with on part of assessee, but it should be restricted to first default only. In the instant case, it is not a case of total non-appearance on part of the assessee during assessment proceedings. As per para 5.5 of assessment order, the Asses....