2020 (11) TMI 597

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....R PER PARTHA SARATHI CHAUDHURY, JM: This appeal preferred by the Revenue emanates from the order of the Ld. CIT(Appeals)-13, Pune dated 24.05.2016 for the assessment year 2014-15 as per the grounds of appeal on record. 2. The crux of the grievance of the Revenue in this appeal is the deletion of penalty amounting to Rs. 4,50,12,760 u/s.271(1)(c) of the Income Tax Act, 1961 (hereinafter referred....

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....ide Para 5 and 6 of its order (supra.), the matter has been restored to the file of the Ld. CIT(Appeals) and therefore, penalty levied u/s.271(1)(c) of the Act should also be restored to the file of the Ld. CIT(Appeals) for fresh adjudication considering the totality of facts and issues in the case while complying with the principles of natural justice. Our view in restoring the penalty to the Ld....