ITO, NEW DELHI vs. DR. KRISHNA KHERA, NEW DELHI

Shorn of unnecessary details, it is seen that the quantum proceedings in the case of Jyothi Khera went in favour of the assessee by the Tribunal along with another related assessees, including, Aman Khera. The Revenue preferred appeal before the Hon'ble Delhi High Court. The Hon'ble jurisdictional High Court has decided the quantum proceedings against the assessee and even the SLP has been dismissed. As regards the penalty, the Hon'ble High Court, vide para 52 of its judgment, has restored the matter to the file of ld. CIT(A) for a fresh decision in accordance with the law. Since the facts and circumstances of penalty in Jyoti Khera and Krishna Khera are similar and identical to those already considered and decided by the Hon’ble High Court, respectfully following the precedent, we set aside the impugned orders and remit the matter to the file of CIT(A) for a fresh decision as per law, after allowing a reasonable opportunity of being heard to the assessee. It is made clear that the directions given by the Hon'ble High Court should be duly taken into consideration in this regard.

In the result, both the appeals are allowed for statistical purposes.