ITAT Rejects Revenue’s Appeal on Technical Grounds in ₹3.10 Cr Penalty Case

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 Tr

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