TAKSHILA RETAIL PVT. LTD.,NEW DELHI vs. ACIT CIRCLE - 25(1), NEW DELHI

This appeal by the assessee is preferred against the order of the CIT(A)-9, New Delhi dated 15.07.2019 pertaining to A.Y.2012- 13.

The solitary grievance of the assessee is that the CIT(A) erred in confirming the penalty of Rs.7,96,53,037/-imposed by the AO u/s. 271 (1) (c) of the Act.

Before going into the merits of the appeal, it has been brought to the notice of the Bench that the quantum appeal has been set aside by the Tribunal vide order dated 28.04.2022 in to the files of the CIT(A).

On this fact this appeal is also restored to the files of the CIT(A). The CIT(A) is directed to decide the appeal for the levy of penalty u/s.271 (1) (c) of the Act after deciding the quantum appeal and after affording a reasonable and sufficient opportunity of being heard to the assessee. 5. In the result, the appeal is allowed for statistical purpose. 6. Decision announced in the open court on 15.03.2023.