The Tax Publishers2021 TaxPub(DT) 0283 (Del-Trib)

INCOME TAX ACT, 1961

Section 271(1)(c)

Since quantum additions made by AO stand deleted by the order of the Tribunal, therefore, penalty levied under section 271(1)(c) does not survive at this juncture.

Penalty under section 271(1)(c) - Additions made by AO under various heads - Quantum addition deleted by Tribunal -

AO levied penalty under section 271(1)(c) on the additions made under various heads, viz., disallowance under section 40(a)(ia), disallowance of provision for sales incentives, disallowance of claim of deduction under section 80-IC, disallowance of exchange loss and addition made in respect of foreign exchange gains. Held: It was brought to notice that the quantum additions made by AO stand deleted by the order of the Tribunal and hence, the penalty did not survive. The facts have not been disputed by Department. Since all the quantum additions stand deleted, penalty levied under section 271(1)(c) does not survive at this juncture.

Relied:MAK Data Pvt. Ltd. v. CIT (2013) 358 ITR 593 (SC) : 2013 TaxPub(DT) 2358 (SC).

REFERRED :

FAVOUR : In assessee's favour.

A.Y. : 2008-09



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