Sec. 271(1)(c) Penalty imposed cannot survive if assessment order quashed

Heritage Infracon Pvt. Ltd. Vs DCIT (ITAT Delhi)

At the outset learned counsel for the assessee submitted that in quantum proceedings the Tribunal vide its order dated 4.12.2019 was pleased to delete the addition made by the Assessing Officer.

Revenue has not disputed the fact that the assessment has been quashed by the Tribunal in ITA no. 1919/Del/2015, therefore, penalty imposed by the Assessing officer u/s 271(1)(c) of the Income-tax Act, 1961 cannot survive.

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