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Income Tax Appellate Tribunal, HYDERABAD BENCHES “A” : HYDERABAD
Before: SMT. P. MADHAVI DEVI & SHRI A. MOHAN ALANKAMONY
PER Smt. P. MADHAVI DEVI, J.M. : Both are assessee’s appeals for the AYs.2011-12 & 2012- 13 respectively, directed against the separate orders of the Commissioner of Income Tax (Appeals)-5, Hyderabad dated 22- 07-2016 for both the assessment years. The CIT(A) had confirmed the penalty levied u/s.271(1)(c) of the Income Tax Act [Act] and the assessee is in appeal against the orders of the CIT(A).
Both these appeals are taken up for hearing on 20-08- 2020 through video conferencing and both the parties were heard.
:- 2 -: & 1990/Hyd/2017
Ld.Counsel for the assessee submitted that the quantum appeals had come up for adjudication before the Tribunal in & 304/Hyd/2016, AYs.2011-12 & 2012-13 and this Tribunal vide order dt.20-06-2018, had remanded the issue to the file of AO for Denovo verification of the annual reports and consideration of the issue in accordance with law. A copy of the said order is filed before us. Therefore, he submitted that consequently, the penalty orders may also be set aside to the file of AO.
Ld.DR had no objection to the said contention of the assessee.
Having regard to the rival contentions and material on record and also particularly the fact that the assessee’s appeals against quantum additions have been set aside to the file of AO for Denovo consideration, we deem it fit and proper to set aside the penalty orders also to the file of AO and direct the AO to re-initiate the penalty proceedings, if necessary, after the completion of assessment proceedings pursuant to the order of the Tribunal, dt.20-06-2018.
In the result, both the appeals of assessee are treated as allowed for statistical purposes.
Order pronounced in the open court on 21st August, 2020 Sd/- Sd/- ( A. MOHAN ALANKAMONY ) ( P. MADHAVI DEVI ) ACCOUNTANT MEMBER JUDICIAL MEMBER Hyderabad, Dated: 21-08-2020 TNMM
:- 3 -: & 1990/Hyd/2017