TMI Blog2021 (7) TMI 977X X X X Extracts X X X X X X X X Extracts X X X X ..... P. Kant , Member ( A ) For the Appellant : Rohit Jain , Adv. and Deepashree Rao , CA For the Respondents : Nidhi Srivastava , CIT ORDER Per O. P. Kant , AM This appeal by the assessee is directed against order dated 22/02/2018 passed by the learned Commissioner of Income-tax (Appeals)-30, New Delhi [in short 'the Ld. CIT(A)'] in relation to penalty levied under section 271(1)(c) of the Income-tax Act, 1961 (in short 'the Act') for assessment year 2007-08. The grounds raised by the assessee are reproduced as under: 1. That the Commissioner of Income Tax (Appeals) ['CIT (A)'] erred on facts and in law in not holding that the impugned order dated 22-02-2018, levying penalty under section 271(1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 271(1)(c) of the Act 2.3. That the CIT (A) erred in not considering the order passed by the Tribunal in the quantum appeal preferred by the appellant for assessment year 2006-07, wherein primary addition made on account of alleged deposit in foreign bank account has been deleted and set-aside to the file of the Assessing Officer. 2.4. That the CIT (A) erred in not appreciating that the addition made in assessment year 2007-08, the year under consideration, was merely nominal differential increase in the alleged peak balance which was already added in assessment year 2006-07 and consequently, the said addition was completely dependent upon finding in assessment year 2006-07, which has already been deleted and set asid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... observing as under: 3. We find that similar matter in assessee's own case for the assessment year 2006-07 in ITA No. 5448/Del/2016 stands adjudicated by the Co-ordinate Bench of ITAT Delhi wherein it was held that the Assessing Officer informed the assessee about the copy of bank account obtained under DTA. However, a contradictory observation has been made in para 6 of the assessment order that the requisite information from Swiss Banking Authority had not been received. We, therefore, considering the totality of the facts as discussed hereinabove, set aside the impugned order and restore the matter back to the file of the Assessing Officer to be adjudicated afresh in accordance with law after providing due and reasonable opport ..... X X X X Extracts X X X X X X X X Extracts X X X X
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