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2018 (2) TMI 301 - AT - Income TaxPenalty u/s 271(1)(c) - additions in the income of the assessee, one is made by the AO which was deleted by the Tribunal and another is made which was surrendered and offered to tax by the assessee - Held that:- CIT(A) deleted the penalty levied by the AO in respect of the additions made by the AO while passing the assessment u/s 153A and 153B r.w.s. 143(3). Revenue has not disputed the fact that the Tribunal has deleted the additions made by the AO and consequently the penalty levied by the Assessing to the extent of addition deleted by the Tribunal is not sustainable. Hence, we do not find any error or illegality in the impugned order of the ld. CIT(A) when the Tribunal while passing the order dated 20.03.2017 in quantum appeals deleted the addition made by the AO. Therefore, the penalty levied u/s 271(1)(c) would not survive and accordingly has been rightly deleted by the ld. CIT(A). Merely filing of the appeal before the Hon’ble High Court will not help the case of the Revenue when neither the said order is stayed nor reversed by the Hon’ble High Court. Accordingly, in the facts and circumstances of the case when the addition made by the AO itself has been deleted by the Tribunal in the quantum appeals then the levy of penalty has no legs to stand. - Decided against revenue.
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