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Income Tax Appellate Tribunal, Hyderabad ‘ A ‘ Bench, Hyderabad
Before: Smt. P. Madhavi Devi & Shri B.RamakotaiahSmt. Maniza Jumabhoy Smt. Maniza Jumabhoy
Per Smt. P. Madhavi Devi, J.M.
These are cross appeals of the assessee as well as the Revenue for the A.Y 2008-09 against the order of the CIT (A)-6, Hyderabad, dated 23.12.2015 in partially allowing the appeal of the assessee against the penalty imposed by the AO u/s 271(1)(c) of the Act.
At the time of the hearing, the learned Counsel for the assessee submitted that the quantum appeal of the assessee for Page 1 of 2
ITA Nos 223 and 922 of 2016 Smt Maniza Jumabhoy Hyderabad.
the very same A.Y, has been set aside to the file of the AO for de novo consideration by the ‘B’ Bench of this Tribunal as to verify to whether the assessee has any title to the property and whether she has received any consideration.
Taking the same into consideration, we find that the penalty order on the basis of the assessment completed u/s 143(3), which has now been set aside, is not sustainable. In view of the same, the penalty order of the AO u/s 271(1)(c) dated 25.03.2014 is cancelled, with the liberty to the AO to initiate penalty proceedings afresh after completing the assessment consequent to the directions of the Tribunal.
In the result, both the assessee’s as well as Revenue’s appeals are treated as allowed for statistical purposes. Order pronounced in the Open Court on 8th January, 2018.
Sd/- Sd/- (B. Ramakotaiah) (P. Madhavi Devi) Accountant Member Judicial Member
Hyderabad, dated 8th January 2018. Vinodan/sps Copy to: 1 Smt. Maniza Jumabhoy, 8-2-584, ‘Sangrila’ Road No.9, Banjara Hills, Hyderabad 2 ITO Ward 6(3) Hyderabad 3 ITO (International Taxation) –I, 5th Floor, Room No.516, Aayakar Bhavan, Basheerbagh, Hyderabad 4 CIT (A)-6 Hyderabad 5 Pr. CIT – 6 Hyderabad 6 The DR, ITAT Hyderabad 7 Guard File
By Order
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