SMT. RENU TYAGI,GURUGRAM vs. ITO WARD 3(5), GURUGRAM

This assessee’s appeal for assessment year 2010-11, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250/2024-25/1070458893(1), dated 19.11.2024 involving proceedings under section 271(1)(c) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).

Learned departmental representative vehemently argues during the course of hearing that both the lower authorities herein have rightly held the assessee to have concealed as well as furnished inaccurate particulars of her taxable income; in the Assessing Officer’s order dated 01.06.2018 thereby levying the impugned section 271(1)(c) penalty of Rs.31,56,880/- and upheld in the lower appellate discussion.

It is in this factual backdrop that we sought to verify the final outcome of the corresponding quantum proceedings in the assessee’s case. It transpires that the assessee’s quantum appeal pending before this tribunal is yet to attain finality. That being the clinching factual position, we are of the considered view that the assessee’s instant penalty appeal deserves to be restored back to the learned Assessing Officer so as to wait for final outcome of her above quantum appeal in the larger interest of justice. We order accordingly. All other remaining issues on merits are left open to be decided at the appropriate stage in accordance with law.