2022 (8) TMI 194

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.... has been filed by the Revenue against order dated 31.03.2019 in appeal No. CIT(A), Delhi 9/10054/2019-20 in assessment year 2012-13 passed by Commissioner of Income Tax (Appeals)-9, New Delhi (hereinafter referred to as the First Appellate Authority in short 'Ld. F.A.A.') in regard to the appeal before it arising out of assessment order dated 31/03/2019 u/s. 271(1)(c) r.w.s. 274 of the In....

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....whereby the disallowance u/s. 14A was reduced to Rs. 2,89,315/- and, the addition of notional interest on share application money advanced was upheld. 3. In the meantime, the penalty proceedings were initiated by the AO. The appellant filed its response thereto and the AO passed the final order u/s.271(1)(c) on 31.03.2019 levying a penalty of Rs. 4,48,70,780/-. 4. Ld. CIT(A) however allowed ....

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.... 2. The appellant craves, leave or reserving the right to amend, modify, alter, add or forego any grounds of appeal at any time before or during the hearing of the appeal." 5. As the case was called for hearing on 14/7/22 none appeared for the assessee/appellant though notice of date of hearing were issued for today. Heard and perused the record. 6. On behalf of the Revenue it was submitted ....