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Income Tax Appellate Tribunal, DELHI BENCH ‘H’ : NEW DELHI
PER SHAMIM YAHYA, ACCOUNTANT MEMBER :
This appeal by the Revenue is directed against the order of the ld. CIT (Appeals)-30, New Delhi dated 04.01.2019 pertaining to the assessment year 2007-08.
In this appeal, Revenue has challenged the deletion of penalty levied under section 271(1)(c) of the Income-tax Act, 1961 (for short ‘the Act’) amounting to Rs.57,04,685/-. order dated 27.01.2021 in for AY 2007-08. Hence this penalty u/s 271(1)(c) levied with reference to those additions does not survive. Ld. DR of the Revenue could not rebut this proposition. Hence since quantum addition has been deleted, we uphold the order of the ld. CIT (A) deleting the penalty u/s 271(1)(c) on those additions.
In the result, Revenue’s appeal is dismissed. Order pronounced in the open court on this 9th day of June, 2022.