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ITAT Rejects Revenue’s Appeal on Technical Grounds in ₹3.10 Cr Penalty Case
Case Law Details
- Case Name
- ACIT Vs Vijay Pandey (ITAT Lucknow)
- 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 Lucknow
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ACIT Vs Vijay Pandey (ITAT Lucknow)
The Income Tax Appellate Tribunal (ITAT) in Lucknow has dismissed an appeal filed by the Assistant Commissioner of Income-Tax (ACIT) against taxpayer Vijay Pandey. The appeal, pertaining to the assessment year 2016-17, sought to challenge the Commissioner of Income-Tax (Appeals) (CIT(A)) decision to cancel a penalty of ₹3,10,08,681. This penalty had been imposed under Section 271D of the Income Tax Act for a violation of Section 269SS, which prohibits the acceptance of a loan, deposit, or specified sum in cash exceeding ₹20,000.
The Tribunal’s deci...
