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Income Tax Appellate Tribunal, Hyderabad ‘ A ‘ Bench, Hyderabad
Before: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony
This is assessee’s appeal for the A.Y 2008-09 against the order of the CIT (A)-2, Hyderabad, dated 4th October, 2017 confirming the penalty levied by the AO u/s 271(1)(c) of the Act.
At the time of hearing through Video Conferencing, the learned Counsel for the assessee has brought to our notice that the quantum appeal for the A.Y 2008-09 has been set aside to the file of the AO for denovo consideration in accordance with the law. He therefore, submitted that the penalty order has also to be set aside.
The learned DR was also heard and he had no objection to the same. Therefore, the assessee’s appeal against the penalty levied by the AO u/s 271(1)(c) is set aside to the file of the AO with a direction to reconsider the issue of penalty u/s 271(1)(c) of the Act after completing the assessment proceedings.
In the result, assessee’s appeal is treated as allowed for statistical purposes.
Order pronounced in the Open Court on 5th November, 2020.