2026 (9) TMI 1451

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....e : Shri Rajesh Kumar Dhanesta, Sr. DR ORDER PER S. RIFAUR RAHMAN, AM : 1. This appeal is filed by the assessee against the order passed by the ld. Commissioner of Income-tax (Appeals), Delhi - 26 [for short 'ld. CIT (A)] dated 22.12.2025 for the Assessment Year 2019-20. 2. At the time of hearing, ld. AR of the assessee brought to our notice relevant facts of the case and submitted his....

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....e AO's assumption of jurisdiction u/s 153C was itself vitiated, placing reliance on the decision of Hon'ble Supreme Court in the case of CIT-I Vs. M/s Calcutta Knitwears Ludhiana (2014) 362 ITR 673 (SC) dated 12.03.2014, read with CBDT Circular No. 242015 dated 31.12.2025, and therefore the appeal was allowed and reassessment order was quashed. 5. He submitted that penalty proceedings u....

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....a Buildwell Projects P. Ltd. Versus DCIT, Central Circle, Noida, dated 15.01.2025, 2025 (1) TMI 1232. 6. He submitted that the same principle has been consistently followed by various judicial forums and relied on various decisions. He submitted that thus, the consistent judicial view is that penalty is only a consequence of a valid assessment, and cannot stand independently when the very asses....