AMIT KUMAR SINHA,PALAMAU vs. DCIT,CIRCLE-3, RANCHI

आदेश /O R D E R Per S. S. Godara: This assessee’s appeal for assessment year 2014-15 arises against the Commissioner of Income-tax (Appeals), Ranchi’s order dated 18.12.2018 passed in case No.10062/RANCHI/2017-18 involving proceedings u/s 271(1)(c) of the Income Tax Act, 1961; (in short ‘the Act’). Heard both the parties. Case file persued. 2. It transpires at the outset that this tribunal’s coordinate bench has restored assessee’s quantum appeal back to the Assessing Officer for afresh adjudication of section 56(2)(vii)(b) addition issue as per law after making necessary reference to the DVO u/s 50C(2) of the Act. We therefore are of the view that the instant lis must also follow the suit since involving consequential penalty

Amit Kumar Sinha Assessment Year:2014-15 Page 2 proceedings. We order accordingly. The Assessing Officer shall take the necessary call after his quantum adjudication in accordance with law. 3. This assessee’s appeal is allowed for statistical purposes in above terms. Order pronounced in open court on 14/07/2020.