2025 (4) TMI 1798

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.... imposed u/s. 271E of the Income Tax Act, 1961 vide penalty order dated 29.05.2023. 2. The brief facts relating to the appeal state that assessee e-filed original return of income for the A.Y. 2017-18 on 14.12.2017, declaring total income at Rs. 23,99,800/-. The return was processed u/s. 143(1) of the Act. Further a search and seizure action u/s. 132 of the Act was carried out on 26.09.2017 in BNR Group of cases. The assessment proceedings were completed u/s. 143(3) r.w. section 153 C of the Act on 31.12.2022. The addition of Rs. 91,10,400/- was made u/s 69A r.w. section 115 BBE of the Act on account of unexplained money on the basis of documents seized from the premise of one Shri Amit Shukla. The penalty proceedings u/s 271E was separa....

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....n 292C of the Act are applicable in assessee's case and the seized documents clearly prove that the assessee has repaid loan of Rs. 91,10,400/- in cash in contravention to the provisions of section 269T rendering him liable for imposition of penalty u/s 271E of the Act. 3. Whether on facts and circumstances of the case and in law, the Ld. CIT(A)-IV, Kanpur while deleting the penalty has overlooked the facts that penalty proceeding on violation of provisions of section 269T of the Act is independent and distinct proceeding which has no correlation with the quantum addition. Hence, Ld. CIT (A) is not justified in deleting the penalty on the basis of deletion of quantum addition despite the fact that order of Ld. CIT (A) deleting ....

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....this tribunal, vide order dated 13.02.2025 passed in ITAs 36&37/Agr/2024 (A.Y.s 2015-16 & 2017-18) has confirmed the order dated 30.05.2022 passed by the ld CIT(A), deleting the impugned addition. 10. The relevant Paras 5 & 6 of the order dated 15.01.2026 passed by this tribunal in ITA No 165&166/Agr/2025 (A.Y. 205-16) in assessee's own case, read as under: "5. The principal issue for adjudication under appeal is as to whether the learned CIT(Appeals) erred in deleting the penalties when the quantum additions had already been deleted? 6. It is undisputed fact that the additions made by the Assessing Officer have been deleted by the first appellate authority, vide order dated 30.11.2023 passed in Appeal No. CIT (A)-IV/KN....