Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (6) TMI 89 - ITAT MUMBAIPenalty u/s 271(1)(c) - change of head of income - assessee submitted that the issues relating to various additions on the basis of which penalty u/s 271(1)(c) was imposed, in the meanwhile, have been restored back to the Assessing Officer by the Tribunal while deciding assessee’s quantum appeal [2017 (4) TMI 1444 - ITAT MUMBAI] - HELD THAT:- Tribunal while deciding the quantum appeal of the assessee in the order referred to above restored all the issues to the AO for fresh adjudication. In the assessment order passed in pursuance to the directions of the Tribunal, the Assessing Officer has accepted some of the claim of the assessee and decided a couple of issues against the assessee. As could be seen from the fresh assessment order, the Assessing Officer had not initiated any proceeding for imposition of penalty u/s 271(1)(c). Be that as it may, once the additions / disallowances on the basis of which penalty u/s 271(1)(c) lost its existence due to the order passed by the Tribunal in quantum appeal filed by the assessee, penalty u/s 271(1)(c) cannot survive. In view of the aforesaid, we are inclined to delete the penalty imposed u/s 271(1)(c) - Decided in favour of assessee
|