KARTIKAY NAYYAR , NEW DELHI V. DCIT, CENTRAL CIRCLE-20, NEW DELHI

ITA 2334/DEL/2023

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 4292 (ITAT-DELHI)
• Duration Of Justice: 4 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-01-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 07-01-2024
• Assessment Year: 2016-2017
• Appeal Filed On: 16-08-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 271(1)(c)

Judgement Text

ITA No.- 2334/Del/2023 Kartikay Nayyar Page 1 of 3 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH: ‘SMC’: NEW DELHI) BEFORE SHRI SHAMIM, ACCOUNTANT MEMBER ITA No:- 2334/Del/2023 ( Assessment Year: 2016-17) Kartikay Nayyar, Punjabi Bagh. Vs. DCIT, New Delhi. APPELLANT RESPONDENT PAN No: ALXPN4900G Assessee By : Shri Anil Jain, CA Revenue By : Shri Om Parkash, Sr. DR Date of Hearing : 08.01.2024 Date of Pronouncement : 16.01.2024 ORDER PER SHAMIM YAHYA, A.M. This appeal by the Assessee is directed against the order passed by the Learned Commissioner of Income Tax (Appeals)-27, New Delhi, dated 18.07.2023 and pertains to Assessment Year 2016-17. The issue raised in this appeal is that the Ld. CIT(A) erred in sustaining the penalty of Rs. 1,54,500/- u/s 271(1)(c) of the Act. 2. Brief facts of the case are that the AO found foreign travels of assessee. On the ground that the assessee has not cooperated and given full details, the AO made an addition of Rs. 34,66,750/- on account of estimated expenditure incurred on foreign travelling. In the appellate proceedings, the same was reduced and finally in the order ITA No.- 2334/Del/2023 Kartikay Nayyar Page 2 of 3 of ITAT, the addition was restricted to Rs. 5,00,000/-. On this amount penalty was levied sustained by the CIT(A). 3. Against the above order, the assessee is in appeal before ITAT. 4. I have heard both the sides and perused the records. 5. I find that addition in this case is purely based upon an estimate. In my considered opinion, given the facts and circumstances of this case, the assessee cannot be held guilty of concealment or furnishing in particulars of income. Moreover, the assessee’s conduct is not contumacious to warrant the levy of penalty. Accordingly I delete the penalty. 6. In the result, appeal filed by the assessee is allowed. Order Pronounced in the Open Court on 16 .01.2024 Sd/- (SHAMIM YAHYA) ACCOUNTANT MEMBER Dated: 16/01/2024 (Pooja) Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI ITA No.- 2334/Del/2023 Kartikay Nayyar Page 3 of 3 Date of dictation 12.01.24 Date on which the typed draft is placed before the dictating Member Date on which the typed draft is placed before the Other Member Date on which the approved draft comes to the Sr. PS/PS Date on which the fair order is placed before the Dictating Member for pronouncement Date on which the fair order comes back to the Sr. PS/PS Date on which the final order is uploaded on the website of ITAT Date on which the file goes to the Bench Clerk Date on which the file goes to the Head Clerk The date on which the file goes to the Assistant Registrar for signature on the order Date of dispatch of the Order