ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), SURAT, SURAT vs. SEJAL JEWELLERS PVT. LTD.,, SURAT

Assessee represented by Shri Mehul Shah, C.A. Department represented by Shri S.M. Keshkamat, CIT-DR Date of Institution of Appeal 27/04/2023 Date of hearing 15/09/2023 Date of pronouncement 15/09/2023 Order under Section 254(1) of Income Tax Act PER: PAWAN SINGH, JUDICIAL MEMBER: 1. This appeal by the Revenue is directed against the order of learned National Faceless Appeal Centre, Delhi (NFAC)/Commissioner of Income Tax (Appeals) (in short, the ld. CIT(A)) dated 27/02/2023 for the Assessment Year (AY) 2012-13. The Revenue has raised following grounds of appeal: “1 On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the penalty of Rs. 1,62,71,168/- levied u/s 271(1)(c) of the Act without appreciating the fact that the Revenue has challenged the decision of Hon’ble ITAT dated 28/02/2022 in the quantum appeal and further appeal has filed before the Hon’ble Gujarat High Court.

2. On the facts and circumstances of the case and in law, the ld. CIT(A) has erred in deleting the penalty Rs. 1,62,71,168/- without deciding the grounds of appeal on merits.

3. On the facts and circumstances of the case and in law, the ld. CIT(A) ought to have upheld the order of the Assessing Officer.