In the result, the appeals of the assessee are allowed
Bench: Sh. N. K. Saini, Hon’Ble & Sh. Ravish Sood
80P. 4. That the learned CIT(A) fell into great error by confirming the penalty of Rs. 55,690/-.” 4. The only issue involved relates to the confirmation of penalty levied by the AO u/s 271(1)(c) of the Income Tax Act, 1961 (hereinafter referred to as the Act). 5. Facts of the case in brief are that