Order of CIT(A) directing AO to levy penalty u/s 271AAA unjustified

Asia Sugar Industries Pvt. Ltd Vs ACIT (ITAT Delhi)

It is not open to the First Appellate Authority i.e., CIT(A) to set aside the order of the A.O. and order a remand or to give any directions. Hence, CIT(A) was not justified in giving direction to the A.O. to levy penalty u/s. 271AAA of the I.T. Act, 1961.

Facts-

The assessee is a group company of Samir Thukral Group. A search and seizure operation under section 132 of the I.T. Act, 196

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