2026 (1) TMI 1416

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.... penalty order dated 29.11.2023 of Learned Assessing Officer/Deputy Commissioner of Income Tax, Central Circle-8, New Delhi (hereinafter referred to as "Ld. AO") passed under section 271AAC(1) of the Act in pursuance to assessment order dated 08.02.2022 under Section 143(3) of the Act for assessment year 2017-18. 2. Brief facts of the case are that the assessee is a sole proprietor of M/s. Moonage Films. Survey under Section 133A of the Act was conducted on 11.09.2020 by the Investigation Wing in the case of M/s. SLG Commodities Pvt. Ltd., Kirti India Hospitality Pvt. Ltd. and Maan Promoters Pvt. Ltd. through Principal Officer Shri Kirtiman Singh, Professor Colony Karam Toli, Ranchi, Jharkhand. During the course of survey and post survey....

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....tion 271AAC(1) of the Act. 3. Against order dated 29.11.2023 of Ld. AO, the appellant/assessee filed appeal before Ld. CIT(A) which was dismissed vide order dated 13.06.2025. 4. Being aggrieved, the appellant/assessee preferred present appeal on following grounds: "1. That the learned Commissioner of Income Tax (Appeals) has erred both in law and in facts in upholding the levy of penalty of Rs. 38,760/- imposed under section 271AAC(1) r.w.s. 274 of the Act which is unsustainable and untenable in law. 2. That the learned Commissioner of Income Tax (Appeals) failed to appreciate that there was neither misreporting of income nor its misrepresentation or suppression of facts of the case so as to uphold the levy of penalt....

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.... 6. The assessee craves to leave add, alter, and modify any other ground of appeal at the time of hearing." 5. Learned Authorised Representative for the appellant/assessee submitted that Ld. CIT(A) failed to appreciate that the appellant's quantum appeal is pending disposal before Hon'ble High Court of Delhi. Hon'ble High Court of Delhi vide order dated 27.03.2025 has admitted substantial question of law. So, there was a substantial question of law admitted in the Hon'ble High Court, the levy of penalty was not permissible. 6. Learned Departmental Representative submitted that the appeal may be kept pending till the decision of appellant's quantum appeal by the Hon'ble High Court of Delhi 7. From examination of recor....