2002 (1) TMI 6

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..... er of Income-tax (Appeals) cancelled the penalty on the ground that the firm has been granted registration and the addition has been deleted. The order was upheld by the Tribunal on the ground that the very basis for levying penalty did not survive - order of the Tribunal, directing registration and deleting addition has become final. Thus no referable question of law arises from the order of the .....

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..... essing Officer imposed penalty of Rs. 20,000 under section 271(1)(c) vide order dated February 22, 1990. The Commissioner of Income-tax (Appeals) cancelled the penalty on the ground that the firm has been granted registration and the addition has been deleted. The order was upheld by the Income-tax Appellate Tribunal on the ground that the very basis for levying penalty did not survive. The Revenu .....

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