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2014 (2) TMI 1364

..... this ground before CIT(A) but CIT(A) without looking into the facts passed the orders in these two years also as in all other years. Therefore, the penalty order for these years does not stand as the assessee was not into existence in these years. Regarding other years also we find that facts and circumstances exactly are same as in the order referred to above and therefore respectfully following .....

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..... 271(1)(b) of the Income Tax Act, 1961. In assessment years 2005-06 & 2006-07 in I.T..A. No.4665 & I.T.A. No.4666/Del/2013 the assessee has raised the ground of order being bad in law as during these years the assessee was non existent. 2. The Ld AR of the assessee submitted that in other group cases under similar circumstances various Benches of the ITAT Delhi has deleted the penalty impos .....

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..... hore Madan 4743 to 4749/D/13 E 31.1.2014 5. The Tribunal in its order dated 31.1.2014 in I.T.A. No.4671 to 4677 & 4691 to 4697/Del/13 has dealt with the issue vide para 6 & 7 as under:-. Having heard the parties in the light of the material placed on record, we find that firstly even as per the penalty orders, it has been observed that the notices u/s 142(1) of the Act were issued on 19.11 .....

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..... 7, the assessee itself was not in existence as the company was incorporated on 11.1.2007 only and assessee had specifically raised this ground before ld CIT(A) but Ld CIT(A) without looking into the facts passed the orders in these two years also as in all other years. 7. Therefore, the penalty order for these years does not stand as the assessee was not into existence in these years. Regarding ot .....

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