SACHIN BHANDARI,JALANDHAR vs. ITO, THANE
Before: SHRI SAKTIJIT DEY, VP & SHRI NARENDRA KUMAR BILLAIYA, AM Sachin Bhandari 276, Chhoti Baradari, Part-2, Jalandhar, Punjab-144 001 Vs. Income Tax Officer Thane
Per Saktijit Dey, VP:
This is an appeal by the assessee, against order dated 20.09.2024, passed by National Faceless Appeal Centre (NFAC), Delhi, confirming the penalty imposed u/s.
271(1)(c) for the assessment year (A.Y.) 2015-16. 2. We have heard the parties and perused the materials available on record. Before us, learned counsel appearing for the assessee submitted that when the learned first appellate authority passed the impugned order, confirming the penalty imposed u/s.
271(1)(c) of the Act, the quantum appeal was pending before him. He submitted, subsequently, while deciding the quantum appeal of the assessee, learned first appellate authority has set aside the assessment order with a direction to the Assessing Officer
(AO) to frame de novo assessment.
2
Therefore, we are inclined to set aside the impugned order of learned first appellate authority and delete the penalty imposed. The A.O. may initiate proceeding for imposition of penalty u/s. 271(1)(c) of the Act, if warranted, depending upon the outcome of de novo assessment.
In the result, the appeal is allowed. Order pronounced in the open court on 28.02.2025 (Narendra Kumar Billaiya) (Saktijit Dey) Accountant Member Vice President Mumbai; Dated : 28.02.2025 Roshani, Sr. PS
Copy of the Order forwarded to :
The Appellant 2. The Respondent 3. The CIT(A) 4. CIT - concerned 5. DR, ITAT, Mumbai 6. Guard File BY ORDER,
(Dy./Asstt.