2021 (1) TMI 281

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..... Kumar, Accountant Member: The present appeal has been filed by the revenue against the order of the ld. CIT(A)-22, New Delhi dated 08.09.2015. 2. Following grounds have been raised by the assessee: "1. On the facts and circumstances of the case and in law, Ld. CIT(A) has erred in reducing the penalty u/s 271(1)(c) of the I.T, Act, 1961 to Rs. 1,35,900/- as against penalty of Rs. 3,86,00,000....

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....concealment of income and which the assessee has failed to do. 4. On the facts and circumstances of the case and in law, Ld. CIT(A) has erred in reducing the penalty u/s 271(1)(c) of the I.T. Act, 1961 to Rs. 1,35,900/- as against penalty of Rs. 3,86,00,000/- imposed by the AO on the ground that some of the additions made were of legal nature ignoring the fact that the assessee had not provided....