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Judgment
ORDER
PER SATBEER SINGH GODARA, JM
This assessee’s appeal for assessment year 2016-17, arises against the Commissioner of Income Tax (Appeals)-33 [in short, the “CIT(A)”], Noida’s order dated 18.11.2025 having DIN and order no. ITBA/APL/M/250/2025-26/1082703873(1), involving proceedings under section 271(1)(c) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
Heard both the parties. Case file perused.
Learned counsel representing the assessee vehemently argues during the course of hearing that both the lower authorities herein have wrongly levied section 271(1)(c) penalty of Rs. 43,53,930/- in the assessee’s hands, pertaining to the corresponding sections 68 addition of Rs.1,30,01,748/- made in the course of assessment framed on 27.12.2018 and partly upheld in the CIT(A)’s order dated 12.07.2021.
A perusal of the case file indicates that the assessee had preferred his quantum appeal ITA No.1133/Del/2021 before the tribunal which already stands accepted in the learned coordinate bench’s order dated 26.03.2025 thereby deleting section 68/69 addition (supra). This being the clinching factual position, we hereby conclude that the impugned penalty has no legs to stand. The same is directed to be deleted in very terms therefore.
This assessee’s appeal is allowed.