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Income Tax Appellate Tribunal, DELHI BENCH ‘H’ : NEW DELHI
(PAN : AABCU2728H) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Arta Trana Panda, Advocate REVENUE BY : Shri Amit Katoch, Senior DR Date of Hearing : 07.08.2023 Date of Order : 07.08.2023
ORDER
PER SHAMIM YAHYA, ACCOUNTANT MEMBER :
This appeal by the assessee is directed against the order of the ld. CIT (Appeals)/NFAC dated 21.11.2022 pertaining to the assessment year 2013-14.
In this appeal, assessee has challenged the upholding of levy of penalty under section 271(1)(c) of the Income-tax Act, 1961 (for short ‘the Act’) amounting to Rs.1,13,72,741/-. order dated 13.01.2023 in for AY 2013-14. Hence, this penalty u/s 271(1)(c) of the Act levied with reference to those additions does not survive. Ld. DR of the Revenue could not rebut this proposition. Since quantum addition has been deleted, we set aside the orders of the authorities below and delete the penalty levied u/s 271(1)(c) of the Act.
In the result, assessee’s appeal is allowed. Order pronounced in the open court on this 7th day of August, 2022 after the conclusion of the hearing.