2026 (1) TMI 910

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....r. DR ORDER PER DR. ARJUN LAL SAINI, A.M: Captioned appeal filed by the assessee pertaining to Assessment Year 2008- 09, is directed against the order passed under section 250 of the Income Tax Act, 1961 (hereinafter referred to as "the Act") by National Faceless Appeal Centre (NFAC), Delhi/Commissioner of Income-tax (Appeals), dated 21.07.2025, which in turn arises out of a penalty order....

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....71B of the Act at the time of assessment proceedings. The assessee was issued a notice for penalty u/s 271B of the Act by the Assessing officer on 25.03.2016. The assessee did not respond to the notices and the Assessing officer imposed a penalty of Rs. 79,287/- being 1% of the gross turnover of the assessee. 4. Aggrieved by the order of the Assessing Officer, the assessee carried the matter in....

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.... the Tribunal has deleted the quantum addition, therefore, no penalty should be imposed u/s.271B of the Act. Hence, the penalty should be deleted. 7. On the other hand, Learned DR for the revenue relied on the order of the Assessing Officer. 8. I have heard both the parties and perused the materials available on record. I note that the Tribunal has deleted the quantum addition made by the As....