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Judgment
PER YOGESH KUMAR, U.S. JM:
The present appeal is filed by the Assessee against the order of Ld. Commissioner of Income Tax (Appeals/ National Faceless Appeal Centre (‘Ld. CIT(A)/NFAC’ for short), New Delhi dated 10/06/2024 for the Assessment Year 2013-14.
None appeared for the Assessee. Considering the issue involved in the present Appeal, we deem it fit to decide the Appeal on hearing the Ld. Department's Representative and perusing the material available on record.
It is found that the Co-ordinate Bench of the Tribunal in quantum appeal for the year under consideration, in ITA No. 1293/Del/2018 vide order dated 25/02/2026, restored to the issue to the A.O. for deciding the issues afresh. Considering the above fact that in the quantum appeal, the issue has been restored to the file of the A.O., the consequential penalty order cannot be sustained. Accordingly, we set aside the order of penalty which has been confirmed by the Ld. CIT(A) in the order impugned. However, we observed that the A.O. is at liberty to initiate fresh penalty proceedings in accordance with law after framing the de-novo assessment if it is so required and this order shall come in the way of the A.O. in initiating fresh penalty proceedings in accordance with law.
In the result, Appeal of the Assessee is partly allowed for statistical purpose.