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2019 (2) TMI 1192 - ITAT DELHIPenalty u/s. 271(1)(c) - unexplained income u/s. 69A - HELD THAT:- The matter travelled to Ld. CIT(A) and ITAT who vide their respective orders confirmed the addition and consequently, the AO imposed the penalty u/s. 271(1)(c) of the Act. The assessee has relied upon various case laws which he also relied upon before the CIT(A), but while citing the judgements and giving their head notes he has not been able to bring on record any similarity of facts between the judgment cited and the present appeal. The case of the assessee is very clear that he has no tangible explanation with regard to unexplained cash deposit which could absolve the assessee from rigour of penalty u/s. 271(1)(c) hence, CIT(A) has rightly upheld the penalty in dispute and dismissed the appeal of the assessee, which does not need any interference on my part, therefore, uphold the action of the CIT(A) in upholding the penalty in dispute and accordingly reject the grounds raised by the Assessee. - Decided against assessee.
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