2022 (10) TMI 1164

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....r the Respondent : Mr. Pratyush Jhunjhunwalla, Adv. ORDER The Court : We have heard Mr. Prithu Dudhoria, learned standing Counsel appearing for the appellant/revenue and Mr. Pratyush Jhunjhunwalla, learned Counsel for the respondent/assessee. There is a delay of 1132 days in filing the appeal. Though there is no proper explanation given by the revenue for the inordinate delay in filing the appe....

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.... in cancelling the penalty levied under section 271(1)(c) of the Income Tax Act, 1961 ? ii) Whether on the facts and circumstances of the case the Income Tax Appellate Tribunal is right in law and fact in holding that the notices under section 274 of the Income Tax Act, 1961 are not in accordance with law ? We have heard Mr. Prithu Dudhoria, learned standing Counsel appearing for the appellant/....

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....ons made in the assessment order on the basis of which penalty for concealment was levied, are deleted, there remains no basis at all for levying the penalty for concealment and therefore in such a case no penalty can survive and the same is liable to be cancelled. The additions made in the assessment order have not been set aside and the order having been confirmed by this Court in ITAT 75 of 202....