ACIT, NEW DELHI vs SHRI RAKESH GUPTA (HUF), NEW DELHI

Income Tax Appellate Tribunal, DELHI BENCHES: ‘B’, NEW DELHI

Before: SHRI P.K. BANSAL & SHRI AMIT SHUKLA

PER P.K. BANSAL, VICE PRESIDENT

This appeal has been filed by the Revenue against the order of Ld. CIT(A)-17, New Delhi dated 12.11.2015 deleting penalty imposed on the assessee u/s 271(1)(c) of the Income Tax Act, 1961 (the Act). None appeared on behalf of the assessee even though notice was sent. We therefore decided to dispose of the appeal after hearing the Ld. D.R.

After hearing the Ld.DR and going through the orders of the authorities below we noted that in the case of the assessee for the impugned Assessment Year this Tribunal in ITA 1496/Del/2014 vide order dt.

Rakesh Gupta (HUF), New Delhi. 7.4.2016 set aside the addition in respect of which the penalty has been imposed by the Assessing Officer and restored it to the file of the Assessing Officer for deciding the same afresh under the law after giving reasonable opportunity of being heard to the assessee. Since the addition in respect of which the penalty has been levied by the Assessing Officer has been set aside by this Tribunal and restored to the file of the Assessing Officer, therefore, we do not find any illegality or infirmity in the order of Ld. CIT(A) in deleting the penalty levied on the assessee u/s 271(1)(c) of the Income Tax Act, 1961.

In the result the appeal filed by the Revenue stands dismissed. Pronounced in the Open Court on 22.09.2017.

ACIT, NEW DELHI vs. SHRI RAKESH GUPTA (HUF), NEW DELHI