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Income Tax Appellate Tribunal, ‘A’ BENCH, CHENNAI
Before: SHRI V.DURGA RAO & SHRI G.MANJUNATHA
order of the learned CIT(A)-7, Chennai, dated 27.09.2019 and pertains to assessment year 2012-13.
The Revenue has raised following grounds of appeal:-
“The Order of the learned Commissioner of Income Tax (Appeals) is contrary to the Law and facts of the case.
CIT(A) erred in deleting the penalty levied u/s.271(1)(c ) of the IT Act, by holding that penalty is not attracted on estimated additions.
2. CIT(A) relied on his own decision on the quantum appeal of the assessee’s own case (vide order in 7/2019-20 dated 28-08-2019) and deleted the penalty levied on the same without considering the fact that the quantum
appeal is not yet reached finality which is pending for adjudication before ITAT.
3. CIT(A) ought to have appreciated the fact that even penalty proceedings also assessee did not furnish the details in support of his claim to prove genuineness of the same.”
Brief facts of the case are that assessment for impugned assessment year has been completed u/s.143(3) of the Income Tax Act, 1961. The assessee has challenged assessment order before the Tribunal. The ITAT., Chennai Benches vide its order dated 10.03.2021 in has deleted additions made by the Assessing Officer by upholding order of the learned CIT(A). In the meantime, the Assessing Officer has levied penalty u/s.271(1)(c) of the Income Tax Act, 1961. The assessee has challenged penalty order passed by the Assessing Officer before the CIT(A) and learned CIT(A) vide order dated 27.09.2019 deleted penalty levied by the Assessing Officer by following certain judicial precedents.
Aggrieved by the learned CIT(A) order, the Revenue is in appeal before us.