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2020 (11) TMI 597 - AT - Income TaxPenalty u/s.271(1)(c) - grievance of the Revenue in this appeal is the deletion of penalty by CIT-A - HELD THAT:- CIT(Appeals) is fortified by the judgment of the Hon'ble Supreme Court in the case of Mohd. Mohatram Farooqui [2010 (2) TMI 1122 - SUPREME COURT] in which it has been held that if addition is restored to the Assessing Officer, then penalty should also be restored. In Sanjay Gupta vs. CIT [2014 (5) TMI 860 - DELHI HIGH COURT] has also held that where the quantum has been remanded to the Assessing Officer, the question of penalty on account of the said amount being treated as undisclosed income, should also be remanded to the Assessing Officer. In the present case in hand, since the quantum appeal has been restored to the Ld. CIT(Appeals), the penalty levied u/s.271(1)(c) of the Act is also restored to the file of the Ld. CIT(Appeals) for fresh adjudication - Appeal of the Revenue is allowed for statistical purposes.
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