BABLI KUKREJA,NEW DELHI vs. ACIT CENTRAL CIRCLE-15, , NEW DELHI

This appeal by the assessee is preferred against the order of the CIT(A)-23, New Delhi dated 31.12.2020 pertaining to A.Y.2006-07.

The sum and substance of the grievance of the assessee is that the CIT(A) erred in confirming the penalty levied u/s. 271 (1) (c) of the Act by the AO amounting to Rs.37,65,704/-. 3. At the very outset the counsel for the assesee stated that the impugned addition on which the penalty has been levied has been deleted by the Tribunal vide order dated 27.09.2021 in ITA No.2479/Del/2017. 4. The DR fairly conceded to this. 5. We have carefully perused the orders of the authorities below. We find force in the contention of the Counsel. This Tribunal in for A.Y.2006-07 at the occasion to decide on the quantum addition and after considering the detailed submissions this Tribunal held as under :-

Since the quantum addition has been deleted, we do not find any merits in the levy of penalty u/s. 271 (1) (c) of the Act. We accordingly direct the AO to delete the penalty so levied.

In the result, the appeal filed by the assessee is allowed. 8. The order is pronounced in the open court on 21.02.2022 in the presence of both the rival representatives.