Penalty imposed by the AO u/s 271D of the Income Tax Act, 1961

Last updated: 14 August 2021

Court :
ITAT Delhi

Brief :
These two appeals are against the order of confirming the penalty u/s 271D of Rs. 14 lac. for Assessment Years 2007-08 & 2008-09.

Citation :
ITA Nos.161 & 162/Del/2018

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI
BENCH ‘B’, NEW DELHI
BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER
AND SH. KULDIP SINGH, JUDICIAL MEMBER
(THROUGH VIDEO CONFERENCING)
ITA Nos.161 & 162/Del/2018
(Assessment Years : 2007-08 & 2008-09)

Devendra Sharad Kumar
Damle
C-70, 1st Floor, Inderpuri,
Delhi-110012
PAN : AEQPD 4446 R

(APPELLANT)

JCIT
Range – 61,
New Delhi

(RESPONDENT)

Assessee by --None--
Revenue by Shri Mahesh Thakur, Sr. D.R.
Date of hearing: 26.07.2021
Date of Pronouncement: 28.07.2021

ORDER

These two appeals are against the order of confirming the penalty u/s 271D of Rs. 14 lac. for Assessment Years 2007-08 & 2008-09.

2.In the absence of any representative from the side of assessee, we proceed to dispose of the appeal ex parte qua the assessee after considering the material on record and after hearing by the Learned DR.

3.Before us, at the outset, Learned DR submitted that the issue involved in both the appeals are identical. In view of the
aforesaid submission of Learned DR, we for the sake of convenience proceed to dispose of both the appeals by a consolidated order but for the sake of reference refer to the facts for A.Y. 2007-08 in ITA No.161/Del/2018.

4.Aggrieved by the order of AO, assessee carried the matter before the CIT(A) who vide order dated 10.11.2017
(Appeal Nos.10493/2016-17 & 10494/2016-17) respectively, dismissed the appeal of the assessee. Aggrieved by the order of CIT(A), assessee is now in appeal before us and has raised.

5.Before us, Learned DR submitted that since assessee taken loan in cash, AO was justified in levying the penalty u/s 271D of the Act and CIT(A) has rightly confirmed the action of AO. He thus supported the order of CIT(A).

6.Thus the grounds in both the assessee’s appeals are allowed for statistical purposes.

In the result, both the appeals of the assessee are allowed for statistical purposes.
Order pronounced in the open court on 28.07.2021.

Please find attached the enclosed file for the full judgement