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Income Tax Appellate Tribunal, DELHI BENCH ‘B’ NEW DELHI
Before: SHRI N.K. BILLAIYA & SHRI SUDHANSHU SRIVASTAVA
PER SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER :
This is an appeal filed by the assessee against the order dated 12.1.2016 passed by the Ld. Commissioner of Income Tax (Appeals)-27, New Delhi for assessment year 2010-11 wherein, vide the impugned order, the Ld. Commissioner of Income Tax (Appeals) has upheld the imposition of penalty of Rs. 26,45,510/- u/s 271(1)(c) of the Income Tax Act, 1961 (hereinafter called 'the Act'). Assessment year 2010-11 2.0 At the outset, the Ld. Authorised Representative (AR) submitted that the quantum appeal of the assessee for the year under consideration has already been restored to the file of the Assessing Officer vide order dated 2.4.2019 in ITA No. 1028/Del/2013. Drawing our attention to Para 8 of the said order, which was placed on record, the Ld. AR submitted that since the quantum appeal has been restored to the file of the Assessing Officer, the penalty matter also should go back to the Assessing Officer.
3.0 The Ld. Sr. Departmental Representative (DR) had no objection to the assessee’s appeal being restored to the file of the Assessing Officer in view of the quantum appeal having been restored to the file of the Assessing Officer.
4.0 Having heard the rival submissions and the contentions and keeping in view the fact that the assessee’s quantum appeal has since been restored by a Coordinate Bench of this Tribunal in vide order dated 02.04.2019, it is our considered opinion that it will be in the fitness of things if the penalty appeal is also restored to the file of the Assessing Officer. Accordingly, we restore this appeal to the file of the Assessing Officer with the liberty to initiate penalty ITA No. 1013/D/2016 Assessment year 2010-11 proceedings afresh, if it is so warranted, once the quantum has been decided afresh.
5.0 In the result, the appeal of the assessee stands allowed for statistical purposes.
Order pronounced in the open court on 31st May, 2019.