TRIPLE S STOCK AND SHARES PRIVATE LIMITED,NEW DELHI vs. DCIT CENTRAL-20, NEW DELHI

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ITA 290/DEL/2026Status: DisposedITAT Delhi24 June 2026AY 2006-073 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 held that since the assessment order was rendered inoperative by the High Court, the penalty proceedings emanating from it were also unsustainable.

What were the facts?

The assessee's appeal was against a penalty order for AY 2006-07. The Delhi High Court had previously held that the assessment order for the same year stood abated.

What were the issues?

The primary issue was the validity of penalty proceedings when the underlying assessment order has been quashed or abated.

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, “C” BENCH, DELHI

Before: SHRI ANUBHAV SHARMA&

For Appellant: Ms. Pankhuri Srivastava, Adv
Hearing: 04.06.2026Pronounced: 24.06.2026

PER ANUBHAV SHARMA, JM:

This appeal is preferred by the assessee against the order dated 28.10.2025 of the Ld. Commissioner of Income Tax(Appeals)-27 New Delhi (hereinafter referred as Ld. First Appellate Authority or in short Ld. ‘FAA’) in DIN & Order No: ITBA/APL/M/250/2025-26/1082106738(1)

P a g e | 2 ITA No.290/Del/2026 Triple S Stock and Shares Pvt. Ltd. . (AY: 2006-07) arising out of the order dated 26.09.2023 u/s 271(1)(c) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) passed by the DCIT, CC-20, Delhi for AY: 2006-07.

2.

On hearing both sides we find that vide ITA No. 164 of 2016 order dated 13.03.2026, Hon’ble Delhi High Court had sustained the order of Coordinate Bench wherein it was held that the assessment order stands abated. The present appeal is merely a penalty proceedings emanating out of the assessment order for which Hon’ble Delhi High Court has upheld the order of Tribunal that earlier assessment order dated 29.12.2008 became inoperative.

3.

In the light of aforesaid the appeal of the assesse is allowed and the impugned penalty order stands quashed.

Order pronounced in the open court on 24.06.2026

Sd/- Sd/- (Amitabh Shukla) (Anubhav Sharma) ACCOUNTANT MEMBER JUDICIAL MEMBER

Dated 24.06.2026 Rohit, Sr. PS

P a g e | 3 ITA No.290/Del/2026 Triple S Stock and Shares Pvt. Ltd. . (AY: 2006-07) Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI

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