NOIDA TOLL BRIDGE COMPANY LTD.,NOIDA vs. ACIT, CIRCLE-18(2), NOIDA
In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.
What did the Tribunal hold?
The Tribunal held that since the quantum additions had been deleted, the corresponding penalty orders were not sustainable and were liable to be quashed. Consequently, the appeals filed by the assessee were allowed, and the associated stay applications were dismissed as infructuous.
What were the facts?
The assessee filed appeals and stay applications against the order of CIT(A)-1, Noida, concerning penalty orders. It was brought to the Tribunal's notice that the underlying quantum additions, which formed the basis for these penalties, had already been deleted by a prior Tribunal order dated 08.08.2023.
What were the issues?
Whether penalty orders are sustainable when the underlying quantum additions have been deleted by the Income Tax Appellate Tribunal.
Which sections of the Income-tax Act were involved?
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, DELHI BENCH ‘E’, NEW DELHI
Before: Dr. B. R. R. Kumar, Sh. Sudhir Kumar
ORDER PER BENCH: The present appeals and stay applications have been filed by the assessee against the order of CIT(A)-1, Noida dated 27.09.2018.
At the outset, both the parties fairly brought to our notice that the quantum additions made in the Assessment order stands deleted by the order of the Tribunal dated 08.08.2023. Hence, the penalty orders are liable to be quashed. Since, the penalty orders have been quashed, the stay applications become in-fructuous and hence dismissed.
In the result, the appeals of the assessee are allowed and stay applications are dismissed as in-fructuous.
Order Pronounced in the Open Court on 17/05/2024.
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