2018 (9) TMI 874

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....nd Garg, Adv. For The Revenue : Sh. Janardan Das, Sr. DR ORDER PER: ANADEE NATH MISSHRA, AM The Assessee has raised the following grounds of appeals:- For A.Y. 2008-09 1. That on the facts and circumstances of the case, CIT(A) was not justified in confirming the penalty order of ACIT, Circle 51(1), New Delhi u/s 221(1) as per which Assessing Officer has levied penalty Rs. 5....

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....x was for good and sufficient reasons and therefore no penalty should have been levied u/s 221(1) of the IT Act, 1961. 3. That orders of the lower authorities are not justified on facts and same are bad in law. 2. These appeals are filed against the orders u/s 221(1) of IT Act for Assessment Years 2008-09 (F.Y.2007-08) & 2009-10 (F.Y. 2008-09) levying penalty amounting to Rs. 5,00,000/....

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....ng Officer with certain directions. It was informed to us, at the time of hearing, by Ld. Counsel for Assessee that the consequential fresh orders u/s 201 r.w.s. 201(1A) of IT Act have not been passed by the Assessing Officer till date. 3. In the meantime, vide separate orders, each dated 16.03.2012 U/s 221(1) of IT Act, the Assessing Officer also imposed penalty amounting to Rs. 5,00,000/- for....

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....ower authorities. 5. It is noticed that the penalty u/s 221(1) of IT Act for the aforesaid two Assessment Years has been levied in respect of tax liabilities determined in orders U/s 201(1A) of IT Act for the aforesaid year. As the aforesaid orders u/s 201 r.w.s. 201(1A) of IT Act for Financial Year 2007-08 (Assessment Year 2008-09) and Financial Year 2008-09 (Assessment Year 2009-10) have been....