2025 (4) TMI 791

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....belong to same Assessee's, having identical issues, the four appeals are heard and decided in this common order. BMA No.1/Del/2023 & 2/Del/2023 2. Ld. Counsel for the Assessee submitted that the Assessee's have challenged the order of the CIT(A) wherein the Ld. CIT(A) upheld the order of penalty imposed u/s 41 of the Black Money (Undisclosed Foreign Income and Assets)and imposition of Tax Act, 2015. Further submitted that the coordinate bench of the Tribunal in the quantum appeals filed by the Assessee's in BMA Nos. 1 to 4/Del/2022,has reduced the addition, therefore, the penalty imposed on the Appellants deserves to be computed accordingly. 3. Per contra, the Ld. DR has also agreed to the submission of the Ld. AR and sought for deciding....

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....nalty is also required to be computedas per Section 41 of the Black Money (Undisclosed Foreign Income and Assets)and imposition of Tax Act, 2015 in so far as the additions sustained by the Tribunal. Therefore, we direct the Assessing Officer ("AO") to re-compute the amount of penalty and pass order accordingly in accordance with law. 6. In the result, appeal of the Assessee in BMA No.1 & 2/Del/2023 is partly allowed for statistical purpose. BMA No. 3 & 4/Del/2023 7. In the above appeals the Appellants have challenged the order of the CIT(A) sustaining the order of penalty of Rs. 10 lakhs each imposed u/s 43 of Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 as the Assessee has failed to furnish the inf....