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TMI Blog2019 (3) TMI 1161X X X X Extracts X X X X X X X X Extracts X X X X ..... d thereby deleting addition by the Tribunal, the impugned penalty does not survive. There is no room for the Revenue to impose penalty under section 271(1)(c) in this case. Therefore, we cancel the impugned penalty and set aside both orders of the Revenue authorities passed under section 271(1)(c) of the Act. - Decided in favour of assessee. - ITA No. 2563/Ahd/2017 - - - Dated:- 22-3-2019 - Shr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 144 r.w.s. 147 of the Income Tax Act. This assessment order has been quashed by the Tribunal in ITA No.2380/Ahd/2016. The Tribunal has held that reopening of the assessment is bad in law, and therefore, re-assessment proceedings were quashed. Copy of the Tribunal order dated 1.11.2018 has been placed on record. On the strength of this order, the ld.counsel for the assessee contended ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome. In other words, the quantification of the penalty is depended upon the addition made to the income of the assessee. Since in the present case, basis for visiting the assessee with penalty has been extinguished by quashing the re-assessment order and thereby deleting addition by the Tribunal, the impugned penalty does not survive. In other words, there is no room for the Revenue to impose pena ..... X X X X Extracts X X X X X X X X Extracts X X X X
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