9911796707
TMI Blog2023 (7) TMI 1156X X X X Extracts X X X X X X X X Extracts X X X X ..... live accordingly - HELD THAT:- It is settled position that when the additions made in the assessment order, on the basis of which penalty for furnishing inaccurate particulars is levied, are deleted, there remains no basis at all for levying the penalty. Accordingly no penalty can survive and the same is liable to be cancelled as in the given case. With regard to the petition for constitution of Special Bench in our considered view until the constitution and pronouncement of the decision of the Special Bench, the decision of the coordinate bench in the quantum appeal is binding on us. In view of these discussions and considering the facts of the present case, we hold that the penalty levied is not sustainable. - Decided against revenue. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ital in nature and after allowing depreciation @ 25% ii. Disallowance of Air fare and travelling expenses iii. Disallowance of website design charges treating it as capital in nature after allowing depreciation @60% iv. Disallowance Lodging Boarding / food and catering charges 4. Subsequently, the Assessing Officer initiated penalty proceedings under section 271(1)(c) for the reason that the assessee has furnished inaccurate particulars. The Assessing Officer held that the CIT(A) in the quantum appeal has upheld the additions / disallowances and, therefore, the provisions of section 271(1)(c) are clearly applicable to the assessee. Accordingly, the Assessing Officer levied a penalty at 100% of tax sought to be evaded to the tu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m appeal, the penalty proceedings would not survive. Therefore, the Ld.AR prayed that the CIT(A) has correctly deleted the penalty. 7. We heard the parties and perused the material on record. We notice that the co-ordinate bench in assessee s own case (supra) has deleted the quantum addition with respect to Franchise Fees and the issues pertaining to disallowance of air fare, travelling expenses, website charges, Lodging Boarding / food and catering charges have been remitted back to the Assessing Officer for a de-novo adjudication. It is further noticed that the Assessing Officer, in the OGE has deleted major part of the disallowances. In the present case the CIT(A) considered the order of the Tribunal and OGE of the Assessing Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
