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2022 (1) TMI 1097 - AT - Income TaxPenalty u/s. 271(1)(C) - addition made u/s 40A(3), on account of cash deposit in the bank account as well as household existence - As argued assessee has not concealed any particulars of income nor furnished any inaccurate particulars - HELD THAT:- The assessee challenged the additions made by the Assessing Officer before the CIT(A) in quantum appeal but the appeal of the assessee was dismissed by the CIT(A) for non-prosecution it. The Varanasi Bench of this Tribunal [2021 (11) TMI 1018 - ITAT VARANASI] has set aside the issue to the record of the CIT(A) for fresh adjudication. Thus, it is clear that after the order of this Tribunal in quantum appeal the addition against which the penalty u/s. 27(1)(c) was levied by the Assessing Officer do not exist - Thus the matter is set aside to the record of the CIT(A) for deciding the same afresh as per the outcome of the quantum proceedings. Appeal of the assessee is allowed for statistical purpose.
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