In the result, this appeal of the assessee is allowed
Bench: Shri George Mathan & Shri Ratnesh Nandan Sahayjokhiram Durgadutt, D.C.I.T., 9, J.D. Corporate, Behind J.D. High Circle-1, Vs. Street, Main Road, Ranchi-834001 Ranchi. (Jharkhand) Pan No. Aabfj 2200 Q Appellant/ Assessee Respondent/ Revenue
142/-. Hence, it is at best a revenue neutral matter hence penalty U/s 271(1)(c ) should not been imposed. 5. It has been held by the various judicial forums that whenever any addition and deletion in scrutiny the resulted income is nil then the penalty u/s 271(1)(c) is not leviable. Few instances are given as follows