MANISH PERIWAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE-2, NEW DELHI

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ITA 1090/DEL/2018Status: DisposedITAT Delhi26 July 2022AY 2007-082 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal found that the addition, which formed the basis for the penalty, had been deleted by a prior Tribunal order. Consequently, the penalty was deemed unsustainable.

What were the facts?

The assessee's appeal concerns the confirmation of a penalty levied under Section 271(1)(c) by the AO. This penalty was based on an addition of Rs. 24,67,158/- made during the assessment proceedings.

What were the issues?

Whether a penalty under Section 271(1)(c) can be sustained when the underlying addition to income has been deleted by a higher appellate authority.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 153A,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘E’, NEW DELHI

Before: SH. N. K. BILLAIYA & SH. YOGESH KUMAR US

Hearing: 26/07/2022Pronounced: 26/07/2022

Appellant Ms. Shweta Bansal, CA Respondent Ms. Rinku Singh, CIT DR Date of hearing: 26/07/2022 Date of Pronouncement: 26/07/2022 ORDER PER N.K. BILLAIYA, AM:

This appeal by the assessee is preferred against the order of the CIT(A)-23, New Delhi dated 14.12.2017 pertaining to A.Y.2007-08.

2.

The sum and substance of the grievance of the assessee is that the CIT(A) erred in confirming the levy of penalty by the AO u/s. 271 (1) (c) of the Act.

3.

The roots for the levy of penalty lie in the assessment order dated 24.02.2015 framed u/s. 153A r.w.s. 143 (3) of the Act in which addition of Rs.24,67,158/- was made to the returned income of the assessee.

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