Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (4) TMI 802 - AT - Income TaxPenalty u/s 271(1)(c) - quantification of the penalty - HELD THAT:- In the present case, the assessee had filed appeal before the Tribunal against quantum addition in the year under consideration. The Tribunal vide order [2021 (10) TMI 1402 - ITAT AHMEDABAD] had remitted the issue back to the file of the ld.CIT(A) for reconsideration and no addition exists as of now, therefore, imposition of penalty at this stage is premature and not justifiable. Since the addition on quantum has been remitted to the file of the ld.CIT(A), we also remit the issue regarding levy of penalty to his file for reconsideration based on the outcome in set aside proceedings pending before him - Appeal of the assessee is allowed for statistical purpose.
|