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2015 (5) TMI 400 - AT - Income TaxPenalty u/s 271(1)(c) - Tribunal has deleted first enhancement made by the ld. CIT(A) and restored the issues in respect of remaining three enhancements to the AO for a fresh consideration - Held that:- there can be no question of sustaining any penalty, at this stage, on the enhancements so made. There can be no penalty on the amount of enhancement deleted by the tribunal. On the enhancements restored to the AO, the question of penalty can be examined only by the AO pursuant to the making of fresh assessment. The impugned order is set aside and the instant penalty on such restored issues is sent back to the AO for taking an appropriate decision after the finalization of the fresh assessment pursuant to the tribunal order. - Following decisions of Mohd. Mohatram Farooqui vs. CIT [2010 (2) TMI 1122 - SUPREME COURT] and Sanjay Gupta vs. CIT [2014 (5) TMI 860 - DELHI HIGH COURT] - Decided in favour of assessee.
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