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2023 (6) TMI 507 - AT - Income TaxPenalty levied u/s 271(1)(c) - disallowance of claim of amortization of premium payable on ZCB - demand has already been extinguished in the order passed NCLT - HELD THAT:- We are of the view that the present appeal of the assessee does not require adjudication at all, as there cannot be any grievance to the assessee as the demand has already been extinguished, which fact has been accepted by the Ld CIT(A). The only apprehension of the assessee perhaps is that the AO may not nullify the demand, since the Ld CIT(A) has observed that he is dismissing the appeal as infructuous. In our view, this apprehension is unfounded, since the AO should necessarily nullify the demand following the order passed by NCLT and not on the basis of appellate orders passed under the Income tax Act. Assessee appeal allowed.
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