TMI Blog2022 (12) TMI 1271X X X X Extracts X X X X X X X X Extracts X X X X ..... Chaturvedi, Accountant Member And Shri Chandra Mohan Garg, Judicial Member For the Assessee : Ms. Nida Sultan, CA For the Revenue : Shri Kanv Bali, Sr. DR ORDER PER ANIL CHATURVEDI, A.M. This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-1, New Delhi, dated 27.08.2018 in Appeal No.05/17-18 relating to the A.Y. 2011-2012. 2. The relevant facts as culled from the material on records are as under : 2.1 Assessee is a company working as an Indenting Agents Exporters. Assessee electronically filed its return of income for A.Y. 2011-12 on 26.09.2011 declaring income of Rs. 12,21,87,140/-. The case of the assessee was selected for scrutiny and thereafter, assessment was framed under secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 61 amounting to Rs. 6,31,000/-. 2. The appellant craves leave to add, to amend, to alter, to substitute or withdrawn any of the Grounds of the Appeal on or before the date of disposal. 4. Before us, at the outset Ld. A.R. submitted that identical issue of penalty arose in assessee s own case for A.Y. 2015-16. The coordinate bench of Tribunal in ITA No. 8532/Del/2019 order dated 11.10.2022 while deciding the issue for A.Y. 2015-16 has deleted the penalty. He placed on record the copy of the aforesaid order. He therefore submitted that in view of the aforesaid decision by the Tribunal in assessee s own case on identical facts, the penalty levied by A.O. and upheld by the Ld. CIT(A) be deleted. 5. The Ld. D.R. on the other hand sup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Act upon the assessee. Hence, in our considered opinion, on the touch stone decision of the Hon ble Supreme Court in the case of Reliance Petro Products (P.) Ltd. penalty u/s 271(1)(c) in this case is not leviable. Therefore, we set-aside the order of the authorities below and delete the penalty. 7. Before us, Revenue has not pointed to any distinguishing facts of the case under consideration and that of A.Y 2015-16 nor has placed any material to demonstrate that the order of Tribunal in assessee s own case for A.Y. 2015-16 has been set aside/overruled/stayed by higher judicial forum. In such a situation, we following the order of the coordinate bench in assessee s own case for A.Y 2015-16 and for similar reasons, hold that no penalt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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