Income Tax Penalty Matter Restored as Quantum Appeal Was Still Pending Before CIT(A)

ACIT Vs Basti Sugar Mills Co. Ltd. (ITAT Delhi) The Revenue filed an appeal against the order of the Commissioner of Income Tax (Appeals)/NFAC dated 21.07.2025 for Assessment Year 2003-04, whereby the CIT(A) had deleted penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961. During the hearing, both parties submitted that the first appeal relating to the quantum assessment for the same assessment year was still pending adjudication before the CIT(A). Taking note of this submission, the ITAT Delhi set aside the order of the CIT(A) concerning the penalty proceedings. The Tribunal re...