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2019 (4) TMI 611 - ITAT AMRITSARLevy of penalty u/s 271(1)(c) - quantum addition proceeding remanded back - HELD THAT:- The tribunal has set aside the quantum proceedings back to the file of the first appellate authority. The appeal in the instant case is qua penalty on both the additions under appeal in the quantum proceedings. Per contra, the penalty proceedings would necessarily have to be restored back. The same are, accordingly, set aside to the file of the ld. CIT(A), to decide the same in light of and by taking into consideration the explanations furnished; the material/s brought on record, as well as the finding/s issued by the first appellate authority in the quantum proceedings, of course after providing reasonable opportunity of being heard to both the parties before him. - Decided in favour of assessee for statistical purposes.
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