Case Law Details
Elite Realtech Pvt. Ltd. Vs ACIT (ITAT Delhi)
As regards penalty order, firstly, the correct limb was not struck off or rather indicated by the Assessing Officer in the notice under Section 274 r.w.s. 271(1)(c) of the Act and hence the decision of the Jurisdictional High Court in case of M/s Sahara India Life Insurance Ltd. (supra) is squarely applicable in present case. Besides this, since the quantum appeal has been decided in favour of the assessee and addition has been deleted, the penalty itself does not survive. Hence, both the appeals of the assessee are allowed.
FULL TEXT OF THE ORDER OF ITAT DELHI
These two appeals are filed by the assessee against the order dated 31/12/2014 passed by CIT(A)-XXX, New Delhi and order dated 29/09/2016 passed by CIT(A)- 31, New Delhi for Assessment Year 2012-13.
2. The grounds of appeal are as under:-
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