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Judgment
4 paragraphs · 108 words
PER SHRI VIKAS AWASTHY, JUDICIAL MEMBER:
This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-24, New Delhi [in short 'the CIT(A)'] dated 13.02.2026, for AY 2015-16 upholding penalty levied u/s.271(1)(c) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act').
2.
At the outset, we observe that quantum addition for the impugned assessment year has been deleted by the Tribunal in assessee's appeal ITA No.2612/Del/202 decided on 30.12.2025. Once, the substratum for levy of penalty has eroded, the penalty proceedings would not survive.
3.
In the result, impugned order is set aside and appeal of the assessee is allowed.