2013 (1) TMI 849

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....UKUL Kr. SHRAWAT, JUDICIAL MEMBER : This is an appeal filed by the Revenue arising from the order of ld.CIT(A)-XV Ahmedabad dated 01/08/2012. Revenue is aggrieved by the deletion of penalty of Rs. 13,85,546/- which was levied u/s.271(1)(c) of IT Act. 2. Facts in brief as emerged from the corresponding penalty order passed u/s.271(1)(c) of the Act dated 8/11/2011 and the assessment order pass....

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.... on facts and legal prepositions in this regard. It is an established legal preposition that asstt.and penalty proceedings are two different and distinct proceedings and it is not in all the cases of disallowance and additions penalty is attracted. The A.O., has not appreciated the explanation of the appellant in the penalty proceedings and simply emphasized the Ld.CIT(A) order confirming the addi....

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....ion Co. (supra) held tht disallowance and additions u/s.40(a)(ia) of the Act is on account of deeming fiction and penalty on such disallowance is not attracted. It is therefore following the ratios of all thee case laws and considering the facts with reason as discussed, the penalty imposed on appellant is not justified and not sustainable in law. The A.O. is therefore directed to delete the pe....