2015 (5) TMI 400

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hri Ramesh Chandra, CIT DR ORDER Per: R S Syal, AM. This appeal by the assessee is directed against the order passed by the CIT(A) on 12.2.2013 directly imposing penalty u/s 271(1)(c) of the Income-tax Act, 1961 (hereinafter also called 'the Act') in relation to the assessment year 2007-08. 2. We have heard the rival submissions and perused the relevant material on record. Brie....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the ld. CIT(A) in quantum proceedings. The first enhancement of Rs. 3,044.06 lac came to be deleted by the tribunal vide its order dated 25.7.2014 in ITA No.5239/Del/2012, a copy of which is available on record. Relevant discussion has been made on page 62 of the Tribunal order. In so far as the remaining three enhancements are concerned, the Tribunal restored the matter to the file of AO for fres....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....g the penalty to the AO is fortified by the judgment of the Hon'ble Supreme Court in the case of Mohd. Mohatram Farooqui vs. CIT (SC) 2010-TIOL-23-SC-IT in which it has been held that if addition is restored to the AO, then penalty should also be restored. The Hon'ble jurisdictional High Court in Sanjay Gupta vs. CIT (2014) 366 ITR 18 (Del) has also held that where the quantum has been remanded to....