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Section 271D Penalty Quashed as AO Did Not Record Satisfaction: ITAT Delhi
Case Law Details
- Case Name
- Gayatri Villa Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Delhi
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Gayatri Villa Vs DCIT (ITAT Delhi)
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) allowed the assessee’s appeals for Assessment Years 2016-17 and 2017-18 by deleting penalties imposed under Section 271D of the Income-tax Act for the alleged violation of Section 269SS. The appeals challenged separate orders of the Commissioner of Income Tax (Appeals), who had upheld penalties of Rs. 93,80,000 for AY 2016-17 and Rs. 44,00,000 for AY 2017-18.
The case arose after a survey under Section 133A conducted on 26.09.2018 at the business premises of the partners of the ass...
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