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TMI Blog2023 (4) TMI 1159X X X X Extracts X X X X X X X X Extracts X X X X ..... ent as relied by the Ld. Counsel for the assessee, direct the AO to delete the penalty imposed u/s 271(1)(c) of the Act to the assessee. Grounds raised by the assessee are hence, allowed. - ITA No.219/Jodh/2019 - - - Dated:- 22-3-2023 - Shri Kul Bharat, Judicial Member And Shri Manish Borad, Accountant Member For the Assessee : Shri Sandeep Jhanwar, CA For the Revenue : Shri S.M.Josh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) also initiated penalty proceedings u/s 271(1)(c) of the Act. In quantum appeal, Ld.CIT(A) further reduced the addition at INR 21,60,817/-. Thereafter, the AO imposed penalty of INR 8,31,893/- u/s 271(1)(c) of the Act vide order dated 22.03.2013. 3. Aggrieved against this, the assessee preferred appeal before Ld.CIT(A), who after considering the submissions, partly allowed the appeal of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the orders of Assessing authority. 7. We have heard Ld. Authorized Representatives of the parties and perused the material available on record. It is seen from the records that the additions were made on the basis of estimation and part relief was granted by the Appellate Authority. Under the facts and circumstances of the present case, we are of the considered view that the AO ought not to hav ..... X X X X Extracts X X X X X X X X Extracts X X X X
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