AMEETA D KAPUR,MUMBAI vs. \U005CU005CU00CCTO 21(3)(1), MUMBAI

This appeal filed by the assessee on 21.6.2016 is against the order of the CIT (A)-38, Mumbai dated 31.3.2016 for the assessment year 2003-2004.

The solitary issue raised in this appeal relates to the penalty u/s 271(1)(c) of the Act. In this regard, Ld Counsel for the assessee brought my attention to the order of the Tribunal in quantum appeal vide for AY 2003- 2004, dated 15.06.2016 and mentioned that vide para 3 (on pages 2 and 3) of the said order (supra), the matter was remanded back to the file of the AO for fresh adjudication after allowing a reasonable opportunity of being heard to the assessee. Therefore, the penalty levied, which is the subject matter of the present appeal, has no legs to stand. 3. On hearing both the parties and on perusal of the said order of the Tribunal (supra), I find, the impugned penalty order is unsustainable in law considering the said decision of the Tribunal (supra). Accordingly I order. However, AO is free to initiate the penalty proceedings as per the law during the remanding proceedings to