2019 (3) TMI 496

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....DER This is an appeal by the Department against the order dated 19.7.2018 of the Commissioner of Income Tax (Appeals)-2, Ludhiana 2. Following grounds have been raised in this appeal: i) Whether on the facts and circumstances of the case the Ld. CIT(A), Ludhiana has erred in law and on the facts in deleting penalty imposed u/s 271(1)(c) of the Income-tax Act, 1961 of Rs. 9,20,10,830/-. ii) T....

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....the Hon'ble Supreme Court in the case of K. C. Builders & Others Vs ACIT (2004) 265 ITR 562 has held as under:- "Where the additions made in the assessment order on the basis of which penalty for concealment is levied, are deleted, there remains no basis at all for levying penalty for concealment and, therefore, in such a case no penalty can survive and the penalty is liable to be cancelled.....