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Income Tax Appellate Tribunal, DELHI BENCH, ‘A’: NEW DELHI
Before: SHRI SHAMIM YAHYA & SHRI YOGESH KUMAR US
ORDER PER SHAMIM YAHYA, AM,
This appeal by the assessee is directed against the order of the National Faceless Appeal Centre (NFAC), New Delhi, dated 22.07.2022 pertaining to Assessment Year 2011-12, in which penalty u/s 271(1)(c) has been sustained.
At the outset before us, the ld. Counsel for the assessee submitted that the quantum addition in this case has been already deleted by the Tribunal vide order dated 26.05.2023 in for AY 2011-12. Hence, this penalty u/s 271(1)(c) levied with reference to those additions does not survive.
Per Contra, the ld. Departmental Representative could not rebut this proposition.
Accordingly, since quantum addition has been deleted by the Tribunal, the penalty appeal with respect to those additions does not survive and hence, penalty is deleted.
In the result, the appeal filed by the assessee stands allowed.
Order pronounced in the open court on 25th July, 2023.