AL TABARAK FROZEN FOODS P. LTD.,NEW DELHI vs. ADDL. CIT, SPECIAL RANGE, GHAZIABAD

This is an appeal by the assessee against the order dated 15.12.2017 of ld. CIT(A), Aligarh.

The only grievance of the assessee in this appeal relates to the confirmation of penalty of Rs.6,79,800/- levied by the AO u/s 271(1)(c) of the Income Tax Act, 1961.

During the course of hearing, the ld. Counsel for the assessee at the very outset stated that the quantum addition on the basis of which the impugned penalty was levied by the AO and sustained by the ld. CIT(A) has been set aside to the file of the AO by the ITAT Bench ‘SMC’, New Delhi in for the assessment year 2010-11 in assessee’s own case vide order dated 20.06.2018 (copy of the said order was furnished which is placed

We have considered the submissions of both the parties and perused the material available on the record. In the present case, it is an admitted fact that the quantum addition on the basis of which the impugned penalty was levied by the AO has been set aside by the ITAT Bench “SMC”, New Delhi vide order dated 20.06.2018 in for the assessment year 2010-11. Therefore, the impugned order is set aside and the matter is remanded back to the file of the AO to be decided after considering the outcome of the aforesaid referred to appeal.

In the result, the appeal of the assessee is allowed for statistical purposes. (Order Pronounced in the Open Court on 24/09/2018)