The Income Tax Appellate Tribunal, Delhi Bench, addressed the appeal filed by Babli Kukreja against the penalty levied by the Assessing Officer under Section 271(1)(c) of the Income Tax Act, concerning the assessment year 2006-07. The penalty of Rs.37,65,704 was initially confirmed by CIT(A)-23, New Delhi.
During the hearing, the counsel for Babli Kukreja argued that a previous Tribunal order (ITA No.2479/Del/2017) had already deleted the impugned quantum addition, the basis for the penalty. The Departmental Representative conceded to this fact, aligning with the assessee’s position.
The Tribunal, after reviewing the submissions and the precedent set by ITA No.2479/Del/2017, decided to delete the penalty. The decision was pronounced in open court, reaffirming the absence of any merit in the penalty levy under Section 271(1)(c).
The appeal by Babli Kukreja was allowed, leading to the cancellation of the penalty. This case highlights the importance of coherent judicial decisions and the impact of prior Tribunal rulings on related legal proceedings.
Date of Order: 21-02-2022
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