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Income Tax Appellate Tribunal, DELHI BENCH ‘D’, NEW DELHI
ORDER
Per N. K. Saini, AM:
This is an appeal by the assessee against the order dated 22.02.2018 of ld. CIT(A)-30, New Delhi.
The only grievance of the assessee in this appeal relates to the confirmation of penalty of Rs.8,01,116/- levied by the AO u/s 271AAA of the Income Tax Act, 1961 (hereinafter referred to as the Act).
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 had been set aside to the ld. CIT(A) by the ITAT Delhi Bench ‘C’, New Delhi in for the assessment year 2012-13 vide order dated 19.06.2018 (copy of the said order was furnished which is placed
Kulpreet Kochar on record). It was stated that since the quantum addition has been set aside to the ld. CIT(A), the penalty u/s 271AAA of the Act may also be set aside because it is directly linked with the said addition.
The ld. Sr. DR could not controvert the aforesaid contention of the ld. Counsel for the assessee.
After considering the submissions of both the parties and the material available on record, we deem it appropriate to set aside this issue back to the file of the ld. CIT(A) to be decided after considering the outcome of the aforesaid referred to appeal of the assessee on the quantum addition and by providing a due and reasonable opportunity of being heard to the assessee.
In the result, the appeal of the assessee is allowed for statistical purposes. (Order Pronounced in the Open Court on 17/09/2018)