Delhi HC Quashes Penalty Order for Failure to Consider Email of Assessee

Prateek Chitkara Vs JCIT (Delhi High Court) In a recent judgement, the Delhi High Court has overturned a penalty order issued under the Black Money Act (BMA). The case, Prateek Chitkara Vs Joint Commissioner of Income Tax Central, highlights the importance of thorough record-keeping and consideration of all relevant documents, including electronic communications, when issuing penalties. The penalty order, dated 29.03.2023, was issued for Assessment Year 2019-20 under Section 41 of the BMA. However, the court found that the assessing officer had failed to consider a crucial email sent by the as...