Section 275(1A) empowers AO to enhance or reduce penalty based on order passed by higher authority

DCIT Vs Sunit Sudhirbhai Chokshi (ITAT Ahmedabad) ITAT Ahmedabad held that section 275(1A) of the Income Tax Act empowers AO to pass penalty order by enhancing or reducing penalty on the basis of assessment as revised by giving effect to orders passed by appellate authority or courts. Facts- The assessment order u/s. 143(3) r.w.s. 153A was passed on 31-12-2019 for the Asst. Year 2017-18 wherein total income assessed at Rs.23,87,99,020/- after making addition to the returned income. As there is difference between the returned and assessed income, the A.O. initiated penalty proceedings u/s. 271A...