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Income Tax Appellate Tribunal, “B”
Before: SHRI G. S. PANNU, AM & SHRI SANDEEP GOSAIN, JM
आदेश / O R D E R
Per Sandeep Gosain, Judicial Member:
This appeal filed by the assessee is against the order of Ld. CIT(A)-16, Mumbai dated 17.10.12 for AY 2007-08 on the grounds mentioned herein below:- 1. The Ld. CIT(A) has erred in confirming the penalty levied by the JCIT u/s 271(1)(c) which is not conformity with the facts and circumstances of the case.
2. The appellant craves for permission to add or amend any of the grounds of appeal at the time of hearing.
The Ld. AR drawn our attention to the order of Hon’ble ITAT in quantum appeal bearing for AY 2007-08 in case titled Sardar Madan Singh Bharara Vrs ACIT dated 05.06.17 and submitted that the quantum appeal filed by the assessee has been set aside /restore back to the file of AO for fresh adjudication.
On the perusal of para no. 5 of the said order of Hon’ble ITAT, we noticed that the Hon’ble ITAT has restored back the matter to the file of AO for fresh adjudication. The AO is also directed to decide the issue after considering the additional evidence filed by the assessee before Hon’ble ITAT.
4. Since the present penalty proceedings were borne out of the assessment order, which has now been set aside to the file of AO by the order of Hon’ble ITAT. Therefore the penalty arising out of the said order is not sustainable in the eyes of law. In view of the above facts, circumstances and discussion, we drop the penalty. It is ordered accordingly.
In the net result, the appeal filed by the assessee stands allowed.