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2019 (6) TMI 82 - AT - Income TaxPenalty u/s 271(1)(c) - deletion of quantum addition by the Hon’ble ITAT [2018 (4) TMI 1710 - ITAT JAIPUR] ] - HELD THAT:- The revenue has not disputed the fact that the addition made by the AO has been deleted by this Tribunal in the quantum appeal as referred by the CIT (A) in the impugned order. However, the revenue has challenged the order of the CIT (A) cancelling the penalty levied under section 271(1)(c) only on the ground that the order of this Tribunal in quantum appeal has not been accepted by the revenue. The revenue has not produced any record or even claimed that the said order of the Tribunal in quantum appeal has been reversed by the Hon’ble High Court. Accordingly, in the facts and circumstances of the case, when the addition itself is not in existence then the penalty levied under section 271(1)(c) has no legs to stand. - Decided in favour of assessee
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