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Facts
The assessee, Noida Toll Bridge Company Ltd., filed appeals and stay applications against penalty orders passed by the CIT(A). These penalty orders were a consequence of quantum additions made in the assessment order.
Held
The Tribunal noted that the quantum additions, which formed the basis for the penalty orders, had already been deleted by a prior Tribunal order dated 08.08.2023. Consequently, the penalty orders were quashed, and the appeals were allowed.
Key Issues
Whether penalty orders are sustainable when the underlying quantum additions, upon which they were based, have been deleted by the Income Tax Appellate Tribunal.
Sections Cited
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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.