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TMI Blog2019 (12) TMI 773X X X X Extracts X X X X X X X X Extracts X X X X ..... er the application of the petitioner staying the demand of penalty subject to the decision of the Tribunal/Appellate Authority. The same having been rejected, this Court deems it appropriate to direct the respondents not to enforce the demand relating to the penalty amount under the demand notice dated 23.4.2019 issued by the respondent No.1 under Section 156 relating to the assessment year in question until disposal of the proceedings pending before the Tribunal or the Appellate Authority challenging the order passed under Section 271(1)(c) of the Act, whichever is earlier and is ordered accordingly. - W.P.No.31127/2019 (T – IT) - - - Dated:- 12-11-2019 - Mrs. S. Sujatha J. PETITIONER (BY SRI T. SURYANARAYANA, ADV.) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 14-A of the Act and recomputed the deduction claimed under Sections 10-A and 10-AA of the Act. Aggrieved, the petitioner filed its objections before the Dispute Resolution Panel which rejected the objections of the petitioner. The 1st respondent passed the final assessment order in line with the directions issued by the DRP. Aggrieved, the petitioner and the Revenue preferred Appeal/cross appeal before the ITAT. The ITAT passed an order dismissing the Revenue s appeal, partly allowing the petitioner s appeal. However, the disallowance made under Section 14-A of the Act and re-computation of deduction under Sections 10-A and 10-AA of the Act came to be upheld. Aggrieved, the petitioner has filed an appeal before this Court which is pen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income Tax Vs. Manjunatha Cotton Ginning Factory reported in (2013) 35 taxmann.com 250 (Karnataka). In such circumstances, penalty proceedings initiated by the Assessing Officer is bad in law. 6. Learned counsel for the respondent-Revenue supports the order impugned herein. 7. Having heard the learned counsel for the parties and perusing the material on record, it is evident that the basis for the levy of penalty is set aside by the Tribunal i.e., the original order of the Tribunal relating to the disallowance made under Section 14-A of the Act and re-computation of deduction under Sections 10-A and 10-AA of the Act by recalling the original order in M.P.No.38/Bang/2019 and the same is pending adjudic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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