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2019 (8) TMI 50 - ITAT LUCKNOW
Penalty levied u/s 271(1)(c) - assessing the interest income as ‘income from other sources” - HELD THAT:- Since the order of the Tribunal, on which reliance has been placed by the ld. CIT(A) while disposing of the appeals filed by the assessee against levy of penalty under section 271(1)(c) of the Act, has been reversed by the Hon'ble Allahabad High Court, we set aside the consolidated order of the ld. CIT(A) and restore the matter to his file, with a direction to decide the issue in the light of the order of the Hon'ble Allahabad High Court [2017 (9) TMI 824 - ALLAHABAD HIGH COURT] and after affording due opportunity of hearing to the assessee. - Appeals of the Revenue are allowed for statistical purposes.