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TMI Blog2018 (9) TMI 874X X X X Extracts X X X X X X X X Extracts X X X X ..... . 2007-08) & A.Y. 2009-10 (F.Y. 2008-09); and restore the corresponding matter regarding penalty u/s 221(1) of the IT Act to the file of the Assessing Officer for fresh orders. The Assessing Officer shall pass fresh orders U/s 221(1) of I.T. Act after the consequential orders U/s 201 r.w.s. 201(1A) of I.T. Act pursuant to aforesaid order dtd. 03.08.2016 of ITAT are passed. The Assessing Officer will give reasonable opportunity to the assessee before passing fresh orders U/s 221(1) of IT Act - Appeals of the assessee are partly allowed for statistical purpose. - ITA Nos:- 2659 And 2660/Del/2015 - - - Dated:- 13-9-2018 - SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER For The Assessee : Sh. Pankaj Ga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rders u/s 221(1) of IT Act for Assessment Years 2008-09 (F.Y.2007-08) 2009-10 (F.Y. 2008-09) levying penalty amounting to ₹ 5,00,000/- in each of the two aforesaid Assessment Years. For both these Assessment Years, orders U/s 201 r.w.s. 201(1A) of the Act were passed by the Assessing Officer determining tax liability of ₹ 7899.85 lacs for Financial Year 2008-09 (A.Y. 2009-10) and ₹ 6193.69 lacs for Financial Year 2007-08 (A.Y. 2008-09). Against the two aforesaid orders u/s 201 r.w.s. 201(1A) of the IT Act, the Assessee filed appeals before the Ld. CIT(A). The matter traveled up to Income Tax Appellate Tribunal (ITAT). Vide consolidated order dated 03/08/2016 in ITA Nos. 2415/Del/2015 2416/Del/2015 pertaining to Assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessment Years has been levied in respect of tax liabilities determined in orders U/s 201(1A) of IT Act for the aforesaid year. As the aforesaid orders u/s 201 r.w.s. 201(1A) of IT Act for Financial Year 2007-08 (Assessment Year 2008-09) and Financial Year 2008-09 (Assessment Year 2009-10) have been set aside by Delhi Bench of ITAT and restored to the file of the Assessing Officer, the penalty levied U/s 221(1) of I.T. Act Employees provident Fund Organization Regional Office Delhi. have no legs to stand at present. We set aside the aforesaid orders dated 17.02.2015 and 16.02.2015 respectively, of the Ld. CIT(A) for A.Y. 2008-09 (F.Y. 2007-08) A.Y. 2009-10 (F.Y. 2008-09); and restore the corresponding matter regarding penalty u/s 221(1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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