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TMI Blog2021 (10) TMI 663X X X X Extracts X X X X X X X X Extracts X X X X ..... der Sec. 271(1)(c) - Decided in favour of assessee. - ITA Nos. 1963 & 1977/MUM/2020 - - - Dated:- 6-10-2021 - Pramod Kumar, Vice President And Ravish Sood, Member (J) For the Appellant : Shreekala Pardeshi, D.R. For the Respondents : Prateek Jain, A.R. ORDER Ravish Sood, JM The captioned appeals filed by the revenue are directed against the respective orders passed by the CIT(A)-47, Mumbai, for A.Y. 2012-13 and A.Y. 2014-15, which in turn arises from the respective orders passed by the A.O u/s. 271(1)(c) of the Act, dated 27.03.2019. As a common issue is involved in the present appeals, therefore, the same are being taken up and disposed off by way of a consolidated order. We shall first take up the appeal filed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Thereafter, the A.O vide his order passed u/s. 271(1)(c) r.w.s 274, dated 27.03.2019 imposed a penalty of ₹ 82,35,693/- on the assessee. 5. Aggrieved, the assessee assailed the order passed by the A.O u/s. 271(1)(c), dated 27.03.2019. 6. Aggrieved, the assessee assailed the order passed by the A.O u/s. 271(1)(c), dated 27.03.2019 in appeal before the CIT(A). Observing, that the additions/disallowances that were made by the A.O had been vacated by the Tribunal, the CIT(A) deleted the penalty that was imposed by him u/s. 271(1)(c) of the Act. 7. The revenue being aggrieved with the order of the CIT(A) has carried the matter in appeal before us. It was submitted by the ld. A.R that as the impugned additions qua which the penalty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gone through the submission, order of the Hon'ble ITAT and facts on record. It is clear that the addition/disallowance in respect of unsecured loans, interest and commission has been duly deleted by the ITAT. The relevant part of the order is already reproduced in the above submission. Therefore, once the quantum additions has been deleted, the penalty has no legs to stand and has become unsustainable in law. In the backdrop of the aforesaid facts finding no infirmity in the view taken by the CIT(A), we uphold his order. 10. The appeal filed by the revenue is dismissed. ITA No. 1977/Mum/2020 A.Y. 2014-15 11. As the facts and the issue involved in the present appeal remains the same as were there before us in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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