33 results for “penalty u/s 271”+ Section 11(1)(A)clear
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In the result, appeal of the assessee is allowed and the appeal of the revenue is dismissed
Bench: Shri George Mathan & Shri Ratnesh Nandan Sahaym/S Central Coalfields Ltd., D.C.I.T., Darbhanga House, Kutchery Road, Circle-1, Vs. Ranchi-834001 (Jharkhand) Ranchi. Pan No. Aaacc 7476 R Appellant/ Assessee Respondent/ Revenue D.C.I.T., Central Coalfield Ltd., Circle-1, 4Th Floor, Central Revenue Building Vs. Ranchi. Annexee, 5A, Main Road, Ranchi-834001 (Jharkhand) Pan No. Aaacc 7476 R Appellant/ Revenue Respondent/ Assessee
u/s 69 but made a new addition on account of valuation of stock. On this addition made by the CIT(A), the AO imposed penalty. As the issue on which Penalty was initiated was deleted in appeal, the penalty proceeding initiated by the AO lost sanctity. The initiation of penalty would have been justified had the CITIA) initiated the same