Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (12) TMI 645 - AT - Income TaxPenalty proceedings u/s 271(1)(c) - quantum addition restored back - Held that:- Since the issue in quantum has been restored to the Assessing Officer for fresh adjudication, the penalty is also restored accordingly. Our view in restoring the penalty to the A.O is fortified by the judgment of the Hon'ble Supreme Court in the case of Mohd. Mohatram Farooqui vs. CIT (2010 (2) TMI 1122 - SUPREME COURT) in which it has been held that if addition is restored to the A.O, then penalty should also be restored. - Decided in favour of assessee.
|