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Penalty u/s 271(1)(c) Cannot Survive When Quantum Itself Is Remanded
Case Law Details
- Case Name
- Sachin Mahasukhlal Shah Vs DCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Ahmedabad
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Sachin Mahasukhlal Shah Vs DCIT (ITAT Ahmedabad)
Penalty u/s 271(1)(c) Cannot Survive When Quantum Itself Is Remanded—Penalty Proceedings Restored to AO for Fresh Decision
Both appeals relate to penalty imposed u/s 271(1)(c) arising from the same quantum addition in AY 2015-16. In each case, the assessee had claimed deduction of ₹38,15,160 as interest expenditure, which the AO disallowed for lack of nexus with plot-rent income. The AO thereafter levied penalty of ₹32,02,179 in the case of Sachin Mahasukhlal Shah and ₹13,13,232 in the case of Rupa Sachin Shah.
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