2026 (5) TMI 1137

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....i, under section 271(1)(c) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') for Assessment Years 2011-12 and 2012-13. 2. The Assessee has raised the following grounds of appeal for Assessment Year 2011-12: 1. That on the facts and circumstances of the case and in law, the Ld. CIT(A) grossly erred in dismissing the appeal being infructuous instead of allowing the appeal despite being aware of the facts that the quantum appeal of the Appellant on the adjustments made by the Assessing Officer ("AO") is being allowed by the Income Tax Appellate Tribunal, Delhi ("Tribunal") vide judgement dated 05.10.2023 in Appeal Number 4097/Del/2017 in favour of the Appellant. 2. That on the facts and circumstances of th....

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....ounds of appeal for Assessment Year 2012-13: 1.That on the facts and circumstances of the case and in law, the Ld. CIT(A) grossly erred in dismissing the appeal being infructuous instead of allowing the appeal despite being aware of the facts that the quantum appeal of the Appellant on the adjustments made by the Assessing Officer ("AO") is being allowed by the Income Tax Appellate Tribunal, Delhi ("Tribunal") vide judgement dated 05.10.2023 in Appeal Number 4098/Del/2017 in favour of the Appellant. 2. That on the facts and circumstances of the case and in law, the Ld. CIT(A) grossly erred in incorrectly considering the submission filed by the Appellant seeking deletion of the penalty demand on account of quantum appeal be....

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....ng adjudicated by this common order. We shall take the facts and figures for AY 2011-12 and the decision taken therein shall apply the mutatis mutandis for AY 2012-13 as well. 5. As per brief factual matrix of the case are that the assessee had filed Return of Income at NIL for AY 2011-12. Assessment was completed under section 143(3) of the Act determining total income which inter alia included addition of Rs. 42,43,71,100/- on account of deduction under section 80IA of the Act. In appeal, the ld. CIT(A) confirmed the additions on account of deduction under section 80IA of the Act amounting to Rs. 24,99,84,100/-. The ld. AO imposed penalty under section 271(1)(c) of the Act amounting to Rs. 63,80,085/-. The ld. CIT(A) confirmed the impu....