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RAJIV SHAKDHER, GIRISH KATHPALIA
Principal Commissioner of Income Tax, Delhi-7 – Appellant
Versus
Unitech Reliable Projects Pvt. Ltd. – Respondent
JUDGMENT
[Physical Hearing/Hybrid Hearing (as per request)]
Rajiv Shakdher, J. (Oral)
CM No. 26497/2023
1. Allowed, subject to all just exceptions.
CM Nos. 26498-99/2023
2. The above-captioned applications have been moved on behalf of the appellant/revenue, seeking condonation of delay in filing and re-filing the appeal.
2.1. According to the appellant/revenue, there is a delay of 24 days in filing and delay of 28 days in re-filing the appeal.
3. Mr Puneet Rai, learned senior standing counsel who appears on behalf of the appellant/revenue says, that the period of delay, both in filing and re-filing is short.
4. Accordingly, the delay in the above-captioned applications is condoned.
5. The above-captioned applications are disposed of in the aforesaid terms.
ITA 291/2023
6. This appeal concerns Assessment Year (AY) 2012-13.
7. The appeal seeks to lay challenge to the order dated 29.09.2022 passed by the Income Tax Appellate Tribunal [in short, "the Tribunal"].
8. The facts emerging from the record, which are necessary for adjudicating the appeal are the following.
9. On 28.09.2012, the respondent/assessee filed its return of income, wherein it had declared a loss amounting to Rs.
The main legal point established in the judgment is the necessity for the assessing officer to clearly specify whether penalty is being levied for concealment of income or for furnishing inaccurate p....
The main legal point established in the judgment is the requirement for the Assessing Officer to clearly indicate the provision/limb under which penalty proceedings are triggered against the assessee....
The necessity for the Assessing Officer to clearly indicate the provision/limb under which penalty proceedings are triggered against the assessee.
Penalty proceedings under Section 271(1)(c) of the Income Tax Act require the Assessing Officer to clearly specify the provision/limb under which penalty proceedings are triggered against the assesse....
Clarity in penalty notices and the debatable nature of issues at the relevant time can influence the imposition of penalties.
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