2018 (7) TMI 2109

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.... DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER, This appeal by the assessee is preferred against the order of the Commissioner of Income Tax (Appeals)-XXXIII, New Delhi dated 02.08.2013 pertaining to A.Y 2009-10. 2. The sum and substance of the grievance of the assessee is that the CIT(A) erred in upholding the penalty of Rs. 53,17,370/- levied by the AO u/s 271AAA of the I.T. Act, 196....

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....e Act in the case of Shri Ashwin Arora and Shri Ashok Arora. The Tribunal in ITA No. 6615/DEL/2013 and 842/DEL/2014 has deleted the levy of penalty from the respective hands. On finding parity of facts and circumstances for levy of penalty u/s 271AAA of the Act, we do not find any reason not to follow the following findings of the coordinate bench of the Tribunal which reads as under: "The Id DR h....