ITO, WARD-10(2), NEW DELHI vs. GLITZ BUILDERS PVT. LTD., NEW DELHI

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ITA 3188/DEL/2019Status: DisposedITAT Delhi09 June 2022AY 2007-082 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the order of the CIT(Appeals) deleting the penalty. This was because the quantum addition, which formed the basis for the penalty, had already been deleted by the ITAT in a prior order.

What were the facts?

The Revenue appealed against the deletion of penalty levied under Section 271(1)(c) of the Income Tax Act. The penalty was imposed based on certain additions made to the assessee's income.

What were the issues?

Whether a penalty under Section 271(1)(c) can survive if the underlying addition to income has been deleted.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘H’ : NEW DELHI

For Appellant: Shri Ajay Bhagwani, CA
For Respondent: Shri Tufail Tahir, Senior DR
Hearing: 02.06.2022

PER SHAMIM YAHYA, ACCOUNTANT MEMBER :

1.

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.

2.

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.

5.

In the result, Revenue’s appeal is dismissed. Order pronounced in the open court on this 9th day of June, 2022.

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