ACIT, CEN. CIR.-3(3), KOLKATA vs. M/S NEW HORIZON (P) LTD, KOLKATA

The present appeal has been preferred by the Revenue against the order dated 16.03.2021 of the Commissioner of Income Tax(Appeals)-21, Kolkata [hereinafter referred to as ‘CIT(A)’]. The Revenue is aggrieved by the action of the CIT(A) in deleting the penalty levied by the Assessing Officer u/s 271AAB of the Income Tax Act (hereinafter referred to as the ‘Act’).

At the outset, the ld. Counsel for the assessee has invited our attention to the order of the Tribunal dated 28.08.2019 passed in to submit that the quantum additions in respect of which the impugned penalty was levied by the Assessing Officer, stand deleted vide the aforesaid order of the Tribunal. That the ld. CIT(A) taking note of the above fact, has deleted the impugned penalty. The ld. AR has also not disputed the aforesaid fact. Since, the quantum addition stood deleted by the order of the Tribunal dated 28.08.2019, therefore, the impugned penalty did not have any legs to stand and the same has rightly been deleted by the ld. CIT(A). There is no merit in the appeal of the Revenue and the same is accordingly dismissed.

In the result, the appeal of the Revenue stands dismissed. Kolkata, the 9th June, 2022.