2019 (8) TMI 353

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..... nt : Smt. Suman Malik, DR ORDER PER SHRI D.S.SUNDER SINGH, ACCOUNTANT MEMBER : This appeal is filed by the assessee against the order of the Commissioner of Income Tax [CIT(A)]-1, Visakhapatnam vide Appeal No.030/2011-12 dated 24.05.2017 for the Assessment Year (A.Y.)2003-04. 2. In this case, the assessment was completed u/s 143(3) r.w.s.153A of the Income Tax Act, 1961 (in short 'Act') for th .....

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..... .2011, in a common order covering the additions made in the assessment order dated 30.11.2007 and 03.11.2010 and levied the penalty of Rs. 3,92,159/- on concealed income of Rs. 28,39,100/-. 3. Aggrieved by the order of the AO for imposing the penalty u/s 271(1)(c), the assessee went on appeal before the Ld.CIT(A). During the appeal proceedings the Ld.CIT(A) found that the ITAT has allowed relief .....

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..... ed 30.11.2007. On appeal filed by the assessee, the Hon'ble ITAT, Visakhapatnam has deleted the quantum additions by an order dated 06.11.2015. Therefore, the Ld.CIT(A) has confirmed the penalty only in respect of the additions made in the reassessment order dated 03.11.2010 amounting to Rs. 9,72,000/- which was upheld by the Ld.CIT(A) and the same is in dispute. The Ld.AR further submitted that t .....

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..... AO passed common order for both the assessment orders which is not in accordance with law, hence, requested to quash the penalty order passed u/s 271(1)(c) of the Act. 6. We have heard both the parties and perused the material placed on record. In the instant case, the AO passed the common penalty order imposing penalty u/s 271(1)(c) in respect of the additions made vide order 143(3) r.w.s. u/s 1 .....

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..... ty also gets squared off and accordingly gets cancelled and there would be no grievance to the assessee. Accordingly, we set aside the order of the Ld.CIT(A) and delete the penalty levied by the AO. Accordingly, appeal of the assessee is allowed. 7. In the result, appeal of the assessee is allowed. Order pronounced in the open court on 2nd August 2019.
Case laws, Decisions, Judgements, Orde .....

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