DCIT,CENTRL CIRCLE-3(1), CHENNAI vs. LATE SHRI B.G.RAGHUPATHY, REP. BY L/H SMT.SASIKALA RAGHUPATHY, CHENNAI

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ITA 335/CHNY/2022Status: DisposedITAT Chennai22 June 2022AY 2008-092 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the deletion of the penalty, as the basis for the penalty (quantum additions) had been entirely removed. Therefore, there was no reason to interfere with the lower appellate authority's order.

What were the facts?

The revenue appealed against the deletion of penalty under section 271(1)(c) by the first appellate authority. The penalty was levied on quantum additions that were subsequently deleted by the Tribunal.

What were the issues?

Whether penalty under section 271(1)(c) can be sustained when the underlying additions have been deleted by the Tribunal.

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, ‘A’ BENCH, CHENNAI

Before: HON’BLE SHRI V. DURGA RAO & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. In this appeal, the revenue is contesting deletion of penalty u/s 271(1)(c) for Rs.430.07 Lacs by Ld. first appellate authority vide impugned order dated 22.02.2022. 2. After hearing, the undisputed position that emerges is the fact the quantum additions against which penalty has been levied, has fully been deleted by Tribunal. Considering the same, Ld. CIT (Appeals) has deleted the penalty as levied by Ld. AO. The Ld. CIT-DR urged that the revenue’s appeal against Tribunal order is pending before Hon’ble High Court of Madras. However, as of today, the order of Tribunal deleting the quantum additions stands. Therefore, we do not find any reason to interfere in the impugned order. 3. The appeal stands dismissed. Order pronounced on 22nd June, 2022.

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