2023 (8) TMI 506

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..... HARAT, JM: This appeal, by the assessee, is directed against the penalty order u/s 271(1)(c) of the Income-tax Act, 1961 (hereinafter referred to as the "Act"), passed by the learned Commissioner of Income-tax (Appeals)-XXV, New Delhi, dated 02.01.2019, pertaining to the assessment year 2009-10. The solitary effective ground raised by the assessee is as under: "That on the basis of facts and in .....

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..... cord. Admittedly in quantum proceedings the addition, which was the basis for imposing impugned penalty u/s 271(1)(c) of the Act, has since been deleted by the Coordinate Bench of this Tribunal vide its order dated 13.06.2023 rendered in ITA no. 7489/Del/2018. Therefore, since the very basis for levy of penalty has gone, the impugned penalty levied u/s 271(1)(c) of the Act cannot survive and stand .....

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