CHATURBHOJ,GHAZIABAD vs. ITO, WARD-2(1), GHAZIABAD

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ITA 2301/DEL/2022Status: DisposedITAT Delhi10 May 2023AY 2009-103 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the penalty imposed under Section 271(1)(c) does not survive as the quantum appeal has been restored to the AO for rectification. The AO is at liberty to initiate penalty proceedings after the rectification order if deemed necessary.

What were the facts?

The assessee challenged the confirmation of an addition on account of long-term capital gain. The penalty under Section 271(1)(c) was imposed on the same issue. The quantum appeal was restored to the Assessing Officer (AO) for rectification.

What were the issues?

Whether the penalty under Section 271(1)(c) can survive when the underlying addition is subject to rectification by the AO.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH: B: NEW DELHI

Before: SHRI CHANDRA MOHAN GARG & SHRI PRADIP KUMAR KEDIA

Hearing: 09.05.2023Pronounced: 10.05.2023

Date of Hearing : 09.05.2023 Date of Pronouncement : 10.05.2023 ORDER PER CHANDRA MOHAN GARG, J.M.

This appeal filed by the assessee is directed against the order dated 04.08.2022 of the Ld. NFAC, New Delhi, relating to Assessment Year 2009-10.

2.

The learned counsel of the assessee submitted a copy of the order of ITAT SMC Bench dated 25.05.2022 in for A.Y. 2009-10 pertaining to assessee’s appeal and submitted that the Tribunal has restored the matter for making necessary rectification to the file of AO. Therefore penalty levied u/s. 271(1)(c) of the Income Tax Act 1961, do not survive and thus the appeal of assessee may kindly be allowed deleting the penalty.

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