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Documents citing Jcit(Osd) Central Circle-1, Noida vs Anil Mittal, Noida on 23 August, 2019

M/S Isgec Heavy Engineering Ltd., ... vs Ito, Ward -1, Yamunanagar on 13 March, 2023

• Delhi Bench of the Tribunal in the case of ACIT, Circle-3 vs Prashant Srivastava in ITA No. 5102/Del/2012 wherein the addition in. the case of the assessee was made for not producing any bills or vouchers, however, the Hon'ble Tribunal deleted the penalty on the same addition by stating that"9. In the background of the aforesaid discussions and precedents, we find that the levy of penalty in this case is not justified particularly when the assessment was framed on the income determined on estimate basis and without bringing any material on record to substantiate that the assessee willfully and intentionally concealed the income cr furnished the inaccurate particulars of the income, hence, we do not see any reason to interfere with the order of the Ld. CIT(A), accordingly, we uphold the same and decide the issue against the Revenue."
Income Tax Appellate Tribunal - Chandigarh Cites 39 - Cited by 0 - Full Document

Om Prakash Singh,Allahabad vs Acit, Central Circle, , Allahabad on 27 December, 2024

The assessee went in appeal before the ld. CIT(A). It was submitted that while the figure disclosed by the assessee was the actual expenditure incurred, the DDO had only estimated his value based upon some assumptions and therefore, there was bound to be some difference between the estimated value and the expenditure actually incurred. It was submitted that the difference in valuation was approximately 7.17% which is within the acceptable limit of 10%. It was further submitted that the Courts have held that if the deviation is within 10%, then no addition can be made by the ld. AO. For the same, he placed reliance on the decision of the ITAT, Delhi in the case of Geetika Sachdev vs. Income Tax Officer, Ward-3(2), Saharanpur and ACIT vs. Harpreet Hotels (Pvt.) Ltd,.
Income Tax Appellate Tribunal - Allahabad Cites 26 - Cited by 0 - Full Document
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