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2019 (7) TMI 1271 - ITAT DELHIPenalty u/s 271(1)(c) - quantum addition deleted - HELD THAT:- We take support from judicial precedent in the case of K.C. Builders vs. ACIT [2004 (1) TMI 7 - SUPREME COURT] as held that where the additions made in the Assessment Order, on the basis of which penalty for concealment was levied, are set aside or cancelled by ITAT or otherwise, the penalty cannot stand by itself and is liable to be cancelled. In such a situation, there remains no basis at all for levying the penalty for concealment, and therefore, in such a case, no such penalty can survive and the same is liable to be cancelled. In view of the foregoing, appeal filed by Revenue is hereby dismissed.
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