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Income Tax Appellate Tribunal, DELHI BENCH: ‘E’ NEW DELHI
Before: SHRI SAKTIJIT DEY & SHRI ANADEE NATH MISSHRA
Date of hearing 14.06.2022 Date of pronouncement 28.06.2022 ORDER
PER SAKTIJIT DEY, JUDICIAL MEMBER:
This is an appeal by the assessee against order dated 13.08.2019 of learned Commissioner of Income-Tax (Appeals)-36, New Delhi, confirming the penalty imposed of Rs.77,25,000 under Section 271(1)(c) of the Income-Tax Act,1961 for the assessment year 2007- 08.
At the time of hearing before us, learned counsel appearing for the assessee submitted that substantive addition based on which the penalty under Section 271(1)(c) of the Income-Tax Act,1961 was imposed, in the meanwhile, has been deleted by the Tribunal.
On perusal of order dated 29.10.2018 passed in 5485, 5486/Del/2016, it is observed that while deciding the quantum appeal, Tribunal has deleted the additions made by the assessing officer.
That being the factual position emerging from material available on record, penalty imposed under Section 271(1)(c) of the Act has to be deleted, as, it cannot have any independence existence in absence of the additions based on which it was imposed. Accordingly, penalty imposed is deleted.
In the result, the appeal is allowed.