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Income Tax Appellate Tribunal, DIVISION BENCH ‘B’, CHANDIGARH
Before: SHRI SANJAY GARG & MS.ANNAPURNA GUPTA
PER BENCH:
Both the above appeals have been filed by the Assessee against the separate orders of the Ld. CIT(A) Chandigarh relating to the confirmation of the penalty levied by the lower authorities.
At the outset the Ld. Counsel for the assesee has furnished a copy of the order of ITAT Chandigarh Bench in case of M/s Swaraj Mazda Ltd. and Others dt. 14/05/2018 and has further submitted that the quantum addition in relation to which the impugned penalty was levied by the lower authorities stood deleted. He therefore has submitted that the consequential penalty should also be deleted.
Ld. DR has also could not rebutted to the above submissions of the Ld. Counsel of the assessee.
Since the quantum addition based on which the impugned penalty has been levied has already been deleted by the Tribunal in case of M/s Swaraj Mazda Ltd. and Others (supra). Hence the consequential penalty having no leg to stand is liable to be set aside / deleted. In view of this the impugned penalty levied by the lower authorities under section 271(1)(c) of the Income Tax Act, 1961 is ordered to be deleted.
As a result, both the appeals of the Assessee are allowed.
Order pronounced in the open Court.
Sd/- Sd/- (ANNAPURNA GUPTA) (SANJAY GARG) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated : 11/07/2018 AG Copy to: 1. The Appellant 2. The Respondent 3. The CIT(A) 4. The CIT 5. The DR