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2019 (7) TMI 1488 - AT - Income TaxPenalty u/s 271(1)(c) - quantum addition deleted - disallowance of speculation loss and disallowance u/s 14A - HELD THAT:- As in the assessee’s own case has deleted the quantum, therefore, the CIT(A) has deleted the penalty. The contention of the Ld. Representative of the Department is that the Department has not accepted the decision of the Hon’ble ITAT on the quantum deletion but it is a matter on record that at this stage, the quantum nowhere exists. Since the quantum has been deleted by Hon’ble ITAT in the assessee’s own case, therefore, we are of the view that the CIT(A) has rightly deleted the penalty. Accordingly, we uphold the decision of the CIT(A) in question and dismissed the appeal of the revenue
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