9911796707
TMI Blog2024 (7) TMI 40X X X X Extracts X X X X X X X X Extracts X X X X ..... ARAT, JM: This appeal, preferred by the assessee, is directed against the order of the learned Commissioner of Income-tax (Appeals)-28, New Delhi, dated 25.01.2019, in sustaining the penalty of 18,80,120/- levied by the Assessing Officer u/s 271(1)(c) of the Income-tax Act, 1961 (hereinafter referred to as the "Act), pertaining to the assessment year 2011-12. The assessee has raised following gro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . CIT(A) upholding the order passed by the Ld. AO levying penalty is not sustainable in law as the same has been passed merely by relying upon the reasoning contained in the quantum orders. The order levying penalty is bad in law as the same has been passed in contravention of the well settled principles of law that penalty proceedings and the quantum proceedings are different and independent proc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder. 7. The order passed by the Ld. CIT(A) is bad in law and liable to be set aside as the same has been passed without appreciating the facts and circumstances of the case and has been passed mechanically without application of mind. The Ld. CIT(A) has chosen to pass the impugned order in utter ignorance of the submissions made by the appellant. 8. The order passed by the Ld. CIT(A) is bad i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tions made in the assessment order the AO also initiated penalty proceedings u/s 271(1)(c) of the Act for furnishing of inaccurate particulars of income and vide penalty order dated 28.03.2018 the AO levied a penalty of Rs. 18,80,120/- for furnishing of inaccurate particulars of income @ 100% of the tax sought to be evaded. Against it the assessee preferred appeal before the learned CIT(A) who aff ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot survive and the impugned penalty levied by the AO may be deleted. 5. Learned DR was fair enough to admit the aforesaid factual position. He, however, submitted that the Department has not given up its stand. 6. In view of the above admitted factual position, since the additions made by the AO have been deleted in quantum proceedings, the very base for initiation of penalty proceedings u/s 271 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
