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Income Tax Appellate Tribunal, “H” Bench, Mumbai
O R D E R Per B.R. Baskaran, AM :-
The appeal filed by the assessee is directed against the order dated 6.11.2013 passed by learned CIT(A)-27, Mumbai confirming the penalty of ` 6.01 lakhs levied by the Assessing Officer u/s. 271(1)(c) of the Act.
Learned counsel appearing for the assessee submitted that the Assessing Officer has levied penalty on the addition of ` 18 lakhs relating to unexplained expenditure. The learned counsel submitted that the assessee has challenged the addition in the quantum proceedings before learned CIT(A) as well as ITAT and the Tribunal, vide its order dated 16.3.2016 passed in has deleted the addition. Accordingly he submitted that the impugned penalty is also liable to be deleted.
Learned Departmental Representative accepted the factual aspects presented by learned AR.
2 Dr. Mrs. Huseina Fakhruddin Davoodi
Having heard the rival submissions, we notice that the impugned penalty is liable to be deleted, since the addition on which the penalty was levied has already been deleted by learned CIT(A). Accordingly we set aside the order of learned CIT(A) and direct the Assessing Officer to delete the penalty levied u/s. 271(1)(c) of the Act.
In the result, appeal filed by the assessee is allowed. Order has been pronounced in the Open Court on 01.6.2016.