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CO 54/Kol.2016 W.B. State Consumer coop. Federation Ltd., AYs- 2011-12 accepted. We therefore hold that imposition of penalty in the present case cannot be sustained and the same is directed to be cancelled.” Respectfully following the aforesaid order of the coordinate bench of this Tribunal, we, therefore, hold that imposition of penalty in the present case cannot be sustained and the same has rightly been cancelled by the Ld. CIT(A), which we uphold. Appeal of revenue is dismissed
`The Cross Objection filed by the assessee per se is supportive in nature and since we confirm the order of Ld. CIT(A) in cancelling the penalty imposed by the AO u/s. 271(1)(c) of the Act, the Cross Objection filed by the assessee is also dismissed as infructuous.
In the result, appeal of revenue and the Cross Objection of assessee both are dismissed.
Order is pronounced in the open court on 24.01.2018 Sd/- Sd/- (Dr.A. L. Saini) (Aby. T. Varkey) Accountant Member Judicial Member
Dated : 24th January, 2018 Jd.(Sr.P.S.) Copy of the order forwarded to:
Appellant – ACIT, Circle-40, Kolkata. 2 Respondent – M/s. West Bengal State Consumer Co-operative Federation Ltd., P-1, Hide Road, Kolkata-700 073. 3. The CIT(A) Kolkata.