ACIT CC 39, MUMBAI vs. VAYU LAND P.LTD, NAVI MUMBAI

This appeal by the Revenue is preferred against the order of the Ld. CIT(A)-41,Mumbai dated 29.10.2013 pertaining to Assessment year 2008-09.

The sole grievance of the Revenue is that the Ld. CIT(A) erred in deleting the penalty levied u/s. 271(1)(c) of the Act.

At the very outset, the Ld. Counsel for the assessee stated that the order of the Ld. CIT(A) is based on the deletion of the quantum addition by the Tribunal in & 8161/M/2011.

The Ld. Departmental Representative fairly conceded to this.

We have gone through the orders of the First appellate authority. We find that the Ld. CIT(A) has deleted the penalty by following the order of the Tribunal in assessee’s own case (supra) by which the Tribunal has deleted the additions made u/s. 69C of the Act. Since the very foundation for imposition of penalty is removed by the Tribunal, we do not find any reason to interfere with the findings of the Ld. CIT(A).

In the result, the appeal filed by the Revenue is dismissed.