9911796707
TMI Blog2023 (3) TMI 1305X X X X Extracts X X X X X X X X Extracts X X X X ..... al filed by the Assessee against the order of the Ld. CIT(A)-3, Ludhiana dt. 18/01/2019 pertaining to A.Y. 2007-08 challenging the confirmation of penalty under section 271(1)(c) of the Act. 2. At the outset it is noted that there is a delay of 10 days in filing the present appeal. Considering the submissions made by the Ld. AR and after hearing the Ld. DR, the delay is hereby condoned and the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ne appeared on behalf of the assessee and the AO accordingly proceeded and passed the penalty order under section 271(1)(c) on 22/09/2015 holding that the assessee in default of making concealment of income to the extent of Rs. 28,84,000/-. 5. Against the penalty order, the assessee moved in appeal before the Ld. CIT(A) wherein again, there was non-appearance and non-compliance on the part of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nalty under section 271(1)(c) of the Act. It was accordingly submitted that where the addition in the quantum proceedings stands deleted, then the very foundation for levy of penalty does not exist and in light of the same, the penalty so levied and confirmed by the Ld. CIT(A) may be set aside. 8. Per contra, the Ld. DR fairly agreed that the order of the Ld. CIT(A), Panchkula deleting the quantu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disclosed sources as assessee did not participate in assessment proceedings and explain the sources of cash deposits made in his bank account of equivalent amount. During appellate proceedings the appellant has explained with satisfactory documentary evidences that he received Rs.26,02,500/- on account of sale of 20 Bigha 16 Biswa rural agricultural land at Haryoli and has submitted copy of sale d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on have been deleted in the quantum proceedings by the ld CIT(A) and which has attained finality as per records, we agree with the contention of the Ld. AR that very foundation for levy of penalty no more exist. Hence the penalty so levied is hereby directed to be deleted as pronounced in the Open Court. 11. In the result, appeal of the assessee is allowed. Order pronounced in the open Court on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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