2022 (1) TMI 646

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e us: 1. On the facts and circumstances prevailing in the case and as per provisions of the Act, it be held that the penalty initiated and levied u/s. 271(1)(c) of the Act are not according to the provisions of sec. 271(1)(c) of the Act and the same may please be deleted. Just and proper relief may be granted to the appellant. 2. The appellant prays to be allowed to add, amend, delete, modify, rectify, raise any ground of appeal at the time of hearing. 3. The appellant prays that the delay in filing appeal may be condoned." 2. Briefly stated, the assessee had filed its return of income for A.Y. 2010-11 on 31-5-2-2-, declaring an income of Rs. 2,43,110/- a/w agricultural income at Rs. 1,78,110/-. Assessment was thereafter framed by th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed. It is stated by the assessee, that he remaining under a bonafide belief that the penalty matter was totally dependent upon the outcome of the quantum appeals of the assessee, wherein the hearing of the same before the Tribunal was finally concluded, viz. (i) A.Ys. 2005-06 to A.Ys. 2008-09, ITA No. 251 to 254/Pun/2016: 26.07.2018; and A.Y. 2010-11 : ITA No. 255/Pun/2016 : 12-09-2018, therefore, for the said bona fide reasons he was awaiting for the order of the tribunal, which had resulted to the delay of 12 days in filing of the present appeal before us. It is stated by the assessee that remaining under the aforesaid bona fide belief that the penalty matter was totally dependent upon the outcome of the quantum appeal of the assessee bef....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....as submitted by the ld. A.R. that now when the additions as regards which penalty had been imposed by the A.O. u/s. 271(1)(c) of the Act had finally been vacated by the Tribunal and does not hold the ground any more, therefore, the penalty in question cannot exist on a standalone basis and is liable to be deleted. 8. Per contra, the learned Departmental Representative (for short D.R) admitted the aforesaid facts as were canvassed by the assessee's counsel before us. 9. We have heard the ld. authorised representatives of both the parties, perused the orders of the lower authorities and the material available on record. As observed from the record, we find that it is a matter of fact that the additions that were made by the A.O. while f....