2019 (5) TMI 1314

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....audhary Arun Kumar ORDER PER SAKTIJIT DEY. J.M. The aforesaid appeal has been filed by the assessee challenging the order dated 9th October 2017, passed by the learned Commissioner (Appeals)-37, Mumbai, confirming the penalty imposed of Rs. 7,33,445, u/s 271(1)(c) of the Income-tax Act, 1961 (for short "the Act") for the Assessment Year 2010-11 2. Brief facts are, while completing the ....

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.... no.1601/Mum./2016, dated 8th June 2018, the Tribunal has allowed assessee's claim of deduction under section 54 of the Act. Therefore, he submitted, in view of the order passed by the Tribunal, penalty imposed under section 271(1)(c) of the Act should be deleted. 5. The learned Departmental Representative agreed that the addition on the basis of which penalty under section 271(1)(c) of the Act....