M/S. SCHLEICHER INDIA LTD.,NEW DELHI vs. ACIT, NEW DELHI

Facts narrated by the revenue authorities are not disputed by both the parties, hence, the same are not repeated here for the sake of convenience.

At the time of hearing, Ld. Counsel for the assessee submitted that in the quantum appeal, the additions have already been deleted by the Tribunal vide order dated 24.3.2017 in assessee’s own case in 6253/Del/2013 (AY 2004-05), hence, the penalty in dispute does not stand in the eyes of law and needs to be deleted and appeal of the assessee may accordingly be allowed.

At the time of hearing, Ld. DR relied upon the orders of the authorities below.

We have heard both the parties and perused the records especially the impugned order as well as the Tribunal’s order dated 24.3.2017 in Assessee’s own case. We find that the Tribunal in assessee’s own case in AY 2004-05 vide order dated 24.3.2017 has allowed the Assessee’s quantum Appeal, hence, the penalty in dispute in the present case, does not stand in the eyes of law. Therefore, we delete the penalty in dispute and allow the grounds of Assessee.

In the result, the Appeal of the Assessee is allowed.