2017 (9) TMI 1288

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....ls by the assessee - one against the quantum assessment and the other against the penalty imposed by the A.O. u/s 271(1)(c) of the Income Tax Act, 1961 (hereinafter also called 'the Act') Act relate to the assessment year 2012-13. Since both the appeals are based on common facts, I am proceeding to dispose them off by this consolidated order for the sake of convenience. 2. The only issue raised i....

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....nt of commission was genuinely made, but the ld. AR candidly admitted that the evidence in its support could not be placed before the Assessing Officer. A request was made for allowing one more opportunity to the assessee to bring on record the necessary evidence. It was, therefore, requested that the matter may be sent back to the Assessing Officer instead of the ld. CIT(A) for appreciation of th....

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....d. 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 the AO, the question of penalty on account of the said amount being treated as undisclosed income, ....