2015 (7) TMI 746

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....s. For the Respondent : None ORDER 1. This appeal is directed against the order dated 16th January 2015 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No. 1036/Del/2013 for the Assessment Year. 2. This appeal arises out of a penalty proceedings under Section 271(1)(c) of the Income Tax Act, 1961 ('Act') initiated against the Respondent Assessee company purs....

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....ered by the Assessee for the delay in filing the appeal was unsatisfactory. 4. In the impugned order the ITAT has, in the facts and circumstances where the Assessee went into liquidation, held that there were justifiable reasons for the delay in filing appeal before the CIT (A). On merits, the ITAT held that the order of the AO does not spell out the reasons for levying of penalty. 5. Having....