Section 271(1)(c) penalty not leviable after deletion of Addition to Income

Prajatantra Prachar Samity Vs DCIT (ITAT Cuttack)

It is noticed that the Co-ordinate Bench of this Tribunal has already deleted the additions made in the quantum assessments on the basis of which penalty has been levied u/s.271(1)(c) of the Act for all the three assessment years, we are of the view that the penalty has no more legs to stand. Consequently, we cancel the penalty levied u/s.271(1)(c) of the Act by the AO and confirmed by the ld CIT (A) for the impugned assessment years.

FULL TEXT OF THE ORDER OF ITAT CUTTACK

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