ARIHANT DREDGING DEVELOPERS PVT. LTD.,KOLKATA vs. I.T.O., WARD - 4(3), KOLKATA

The present appeal has been preferred by the assessee against the order of the Commissioner of Income Tax (Appeals)-NFAC, Delhi [hereinafter referred to as ld. ‘CIT(A)’] passed u/s 250 of the Income Tax Act, 1961 (hereinafter the ‘Act’) dated 26.06.2024 for the AY 2012-13.

At the outset, ld. Counsel for the assessee has submitted that the quantum appeal related to the issue on which the impugned penalty has been levied has been restored to the file of ld. CIT(A) by this Tribunal vide order I.T.A. No.: 1808/KOL/2024 Assessment Year: 2012-13 Arihant Dredging Developers Pvt. Ltd. dated 13.04.2018 passed in and the matter is still pending before the ld. CIT(A). 2.1. Since the issue relating to quantum additions has been restored by this Tribunal to the file of ld. CIT(A), and the decision arrived at by the ld. CIT(A) will have direct bearing on the merits of the levy of penalty, therefore, the issue relating to the levy of penalty is required to be decided along with the quantum appeal of the assessee.

In view of this, the impugned order of the ld. CIT(A) is set aside and the matter is restored to the file of the ld. CIT(A) with a direction to decide the present penalty appeal of the assessee along with the quantum appeal pending before him as noted above.

In the result, the appeal of the assessee is treated as allowed for statistical purposes. Order pronounced in the open Court on 16th October, 2024. Sd/- Sd/- [Rakesh Mishra] [Sanjay Garg] Accountant Member Judicial Member Dated: 16.10.2024 Bidhan (P.S.) Copy of the order forwarded to: