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TMI Blog2024 (2) TMI 533X X X X Extracts X X X X X X X X Extracts X X X X ..... e the High Court of Gujarat against the order passed by Hon ble ITAT deleting the quantum addition - HELD THAT:- At the time of hearing before us, we observe that, in the quantum appeal, the Tribunal has deleted the quantum addition in [ 2021 (4) TMI 199 - ITAT AHMEDABAD ]. In the light of the order of the Tribunal in the quantum proceedings where the Tribunal deleted the addition, and in view of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income-tax (Appeals)-12, Ahmedabad (hereinafter referred to as CIT(A) ) dated 12.06.2023 passed u/s 250(6) of the Income-tax Act, 1961 (hereinafter referred to as the Act ) for Assessment Year (AY) 2010-11. 2. The only effective ground raised in this appeal is whether the ld. CIT(A) is justified in deleting the penalty of Rs. 4,30,72,029/- levied by the Assessing Officer u/s 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 143(3) of the Act was completed by the Assessing Officer vide order dated 05.03.2013, making addition of Rs. 12,67,19,713/- u/s 10B of the Act and a further disallowance of Rs. 11,91,891/- towards expenses on STCG. 4. Aggrieved by the assessment order, assessee preferred appeal before the ld. CIT(A) who, while deleting the disallowance Rs. 11,91,891/- towards the expenses on STCG, however con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 014. In the light of the order of the Tribunal in the quantum proceedings where the Tribunal deleted the addition, and in view of the Department s appeal to the High Court challenging the deletion of the said addition, it is pertinent to note that the High Court has neither overturned the Tribunal s order nor issued a stay order as of now. Accordingly, the Tribunal s decision retains its legal val ..... X X X X Extracts X X X X X X X X Extracts X X X X
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