2021 (7) TMI 1082

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....e appeals are as under : ITA.No.5911/Del./2017 - A.Y. 2008-2009 [Revenue] : 1. That on the facts and in the circumstances of the case the CIT(A) has erred in law and on facts in deleting the penalty of Rs. 6,29,271/- on the concealed income of Rs. 18,51.345/- which was imposed by the AO on account of undisclosed interest income in HSBC Geneva. 2. That on the facts and in the circumstances of the case the CIT(A) has erred in law and on facts in deleting the penalty, disregarding the facts that the assessee has deliberately concealed his income of Rs. 18,51,345/- in HSBC, Geneva. 3. That the grounds of appeals are without prejudice to each other. 4. That the appellant craves leave to add, amend, alter or....

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....unds of appeals are without prejudice to each other. 4. That the appellant craves leave to add, amend, alter or forgo any ground(s) of appeal either before or at the time of hearing of the appeal ITA.No.5914/Del./2017 - A.Y. 2011-2012 [Revenue] : 1. That on the facts and in the circumstances of the case the CIT(A) has erred in law and on facts in deleting the penalty of Rs. 7,28,890/- on the concealed income of Rs. 23,58,868/- which was imposed by the AO on account of undisclosed interest income in HSBC Geneva. 2. That on the facts and in the circumstances of the case the CIT(A) has erred in law and on facts in deleting the penalty, disregarding the facts that the assessee has deliberately concealed his income ....

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....he A.O. on account of notional interest in the Foreign Bank Account at Geneva. He submitted that the Order of the Tribunal has been upheld by the Hon'ble Jurisdictional Delhi High Court in I.T.A.Nos. 48 to 54 of 2021 vide Order Dated 22.02.2021 and the appeals filed by the Revenue has been dismissed. He accordingly submitted that since the very basis on which the penalty has been levied by the A.O. has been deleted by the Ld. CIT(A) which was upheld by the Tribunal and on further appeal by the Revenue the Hon'ble Delhi High Court has dismissed the appeal filed by the Revenue, therefore, the grounds raised by the Revenue do not survive and accordingly, the appeals filed by the Revenue are liable to be dismissed. 4. The Ld. D.R, on the oth....