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Judgment
This appeal filed by the Assessee against the order of Learned Commissioner of Income Tax (Appeals), Rohtak, [“Ld. CIT(A)”, for short], dated 05/08/2020 for Assessment Year 2006-07.
The Ld. Counsel for the assessee submitted that addition made by the AO has been deleted by the Tribunal in the quantum appeal in ITA No.349/Del/2010 for A.Y.2006-07, therefore, the penalty proceedings initiated pursuant to the additions made in the assessment is liable to be set aside. The Ld. Counsel for the assessee has also produced the order of the Co-ordinate Bench dated 05/01/2024 in ITA No.349/Del/2010. The Ld. DR has not disputed the above facts.
Considering the fact that the Co-ordinate Bench vide order dated 05/01/2024 in ITA No.349/Del/2010 deleted the addition in the quantum appeal, the consequential penalty order is also liable to be quashed. Accordingly, the appeal is allowed and the impugned penalty order and the order of the Ld. CIT(A) are hereby set aside.
In the result, the appeal filed by the assessee is allowed.