2025 (4) TMI 600

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....DEL/2024 - -<br>Income Tax<br>Shri Mahavir Singh, Vice President And Shri S. Rifaur Rahman, Accountant Member For the Assessee : Shri Madhav Kapur, Advocate For the Revenue : Smt. Amisha Gupta, CIT DR ORDER PER S. RIFAUR RAHMAN, ACCOUNTANT MEMBER : 1. The assessee's, Rama Pashu Aahar Pvt. Ltd., Rama Hygienic Products Pvt. Ltd. and Rama Allied Products Marketing Pvt. Ltd. has filed appeals aga....

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.... as lead case. The only issue involved in the present case is levying of penalty u/s 271 (1)(c) of the Income-tax Act, 1961 (for short 'the Act') of Rs. 7,23,020/- @ 100% of the tax sought to be evaded. 5. Briefly stated the facts necessary for adjudication of the controversy at hand are : On the basis of assessment completed under section 153A/143(3) of the Act, penalty proceedings were initiate....

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.... the penalty levied on the basis of the quantum appeal is not sustainable. 9. Undisputedly, coordinate Bench of the Tribunal vide order dated 29.02.2025 (supra) quashed the assessment. In these circumstances, the penalty levied by the AO is not sustainable in view of the law laid down by the Hon'ble Apex Court in case cited as K.C. Builders & Anr vs. ACIT - 265 ITR 562 (SC) because "when the addi....

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.... Pvt. Ltd. our above findings in the said case in AY 2009-10 are applicable mutatis mutandis in all the other 9 appeals of the aforesaid assessee's in AYs 2009-10 to 2012-13. Accordingly, all the other 9 appeals being ITA Nos.2674 & 2675/Del/2024 in Rama Pashu Aahar Pvt. Ltd., ITA Nos.2687 to 2690/Del/2025 in Rama Hygienic Products Pvt. Ltd. and ITA Nos.2668 to 2670/Del/2025 in Rama Allied Product....