MR. SANJAY R. TARUKHIA ,MUMBAI vs. THE CIT (APPEALS)-34, MUMBAI

This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals) -34, Mumbai [in short ‘the CIT(A)’ ] , dated 28/01/2016 for the assessment year 2009-10, vide which penalty levied under section 271(1)(c) of the Income Tax Act, 1961 [in short ‘the Act’] has been upheld.

Shri Mukesh Chokshi appearing on behalf of the assessee submitted at the outset that the Tribunal in vide order dated 29/09/2022 has restored the quantum appeal of the assessee to the CIT(A). Therefore, the penalty appeal may also be restored to the file of CIT(A).

Ms. Smita Nair representing the Department raised no objection to the restoration of the present appeal to the file of CIT(A).

Both sides heard. The present appeal has filed by the assessee assailing penalty levied under section 271(1)(c) of the Act. The SMC Bench of the Tribunal in vide order dated 29/09/2022 has restored the quantum appeal of the assessee to the file of CIT(A). In assessment proceedings the Assessing Officer made addition of Rs.34,66,384/- under section 69A of the Act. The penalty under section 271(1)(c) of the Act has been levied in respect of the aforesaid addition. Since, the quantum appeal has been restored to CIT(A), we deem it appropriate to restore the penalty appeal to the CIT(A) as well. The appeal of the assessee is thus, allowed for statistical purpose.

In the result, appeal by the assessee is allowed for statistical purpose.