2022 (6) TMI 508

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..... SINGH, JUDICIAL MEMBER: The appellant, DCIT 3(1)(2), Mumbai (hereinafter referred to as 'the Revenue') by filing the present appeal, sought to set aside the impugned order dated 29.03.2018 passed by Commissioner of Income Tax (International Taxation)-3 Mumbai [hereinafter referred to as the CIT(IT)] qua the assessment year 2012-13 on the grounds inter alia that :- "1. Whether on the facts and .....

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..... income to Rs.1,80,03,34,151/-, penalty proceedings under section 271(1)(c) of the Act were initiated. Declining the contentions raised by the assessee the Assessing Officer (AO) proceeded to conclude that the assessee has deliberately concealed the income by furnishing inaccurate particulars of income to reduce their tax liability and thereby levied the penalty to the tune of Rs.91,19,56,419/- be .....

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..... law relied upon. 6. At the very outset, it is brought to the notice of the Bench that respondent-assessee company has since been liquidated by the National Company Law Appellate Tribunal (NCALT) vide order dated 07.11.2019 and as such no longer in existence. This fact has also been brought on record by Vaish Associates Advocates vide their letter dated 18.11.20121 being attorney of the respondent .....

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