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Income Tax Appellate Tribunal, MUMBAI BENCH “A”, MUMBAI
ORDER PER G.S.PANNU,A.M:
The captioned appeal filed by the assessee pertaining to assessment year 2008-09 is directed against an order passed by CIT(A)- 47 Mumbai dated 20/08/2015 which in turn arises out of an order passed by the Assessing Officer under section 271(1)(c) of the Income Tax Act, 1961 (in short ‘the Act’) dated 29/09/2014.
In this appeal, the Revenue has raised the following Grounds of appeal:-
1. On the facts and in the circumstances of the case and in law, the ld CIT(A) erred in cancelling the penalty under section 271(1)(c) of the Act by relying on the decision of the Hon’ble ITAT deleting the quantum addition without appreciating the fact the decision of the ITAT in deleting the quantum addition has not been accepted and penalty under section 260A is being filed.
The appellant prays that the order of the CIT(A) on the above grounds be set aside and that of the Assessing Officer be restored.”
2. The issue raised in this appeal arises from penalty imposed by the Assessing Officer under section 271(1)(c) of the Act amounting to Rs.38,79,800/-. The CIT(A) has deleted the penalty for the reason that the additions made in the assessment order, on the basis of which penalty was levied, had since been deleted by the Tribunal vide order in to 2249/Mum/2013 dated 17/07/2015. Against such a decision of the CIT(A), the Revenue is in appeal before us.
At the time of hearing, it was a common ground between the parties that the circumstances noted by the CIT(A) continue to hold the field and, therefore, there is no justification to interfere with the ultimate conclusion of the CIT(A), which is hereby affirmed.
In the result, the appeal of the Revenue is dismissed.