Penalty procedding must be kept in abeyance till disposal of quantum appeal by first appellate authority

In this case penalty proceedings have been initiated by ld. CIT(A) pursuant to enhancement of income made by him vide his order dated 17.07.2012. The appeal against this order has been filed before the Tribunal on 4th October, 2012 which is in fact the first appeal of the assessee against the enhancement of income by ld. CIT(A). As the appellate proceedings are already on, we are not going into the merits of the case. However, it will not be out of place to mention that the contention of the assessee that it has prima facie case in its favor, has not been commented upon by the Revenue. As per ...