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Income Tax Appellate Tribunal, DELHI BENCHES: “SMC”: NEW DELHI
Before: SHRI R.S. SYAL
M/s Institute of Management Vs. DCIT- Exemption, Education, 178, GT Road, Ghaziabad Sahibabad, Ghaziabad PAN: AAATI1437R (Appellant) (Respondent) Assessee By : Sh. Akhilesh Kumar & Sh. Arun Agarwal, Advocates Department By : Sh. B.R. Mishra, Sr. DR Date of Hearing : 20.06.2018 Date of Pronouncement : 21.06.2018 ORDER PER R.S. SYAL, VP: This appeal by the assessee is directed against the order passed by the learned CIT(A), Ghaziabad on 4.10.2017 in relation to assessment year 2010- 11 confirming penalty of Rs.12,14,880/- imposed by Assessing Officer under Section 271(1)(c) of the Act.
I have heard both the sides and gone through the relevant material on record. It is observed that the only basis for imposition of penalty is an addition of Rs.39,31,650/- made by the Assessing Officer in the assessment order. The learned AR has placed on record a copy of the Tribunal order dated 10.2.2017 in in which such addition has been deleted. No material has been placed on record to demonstrate that such an order has been reversed or modified by the Hon’ble High Court. In view of the fact that the very foundation of the penalty, being, the amount of addition made in the assessment order ceases to exist, there can be no question of imposing or confirming any penalty thereon. I, therefore, direct to delete the penalty.
In the result, the appeal is allowed.
The order pronounced in the open court on 21st June, 2018.