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Judgment
PER RENU JAUHRI :
The above captioned appeal is preferred by the assessee against the order dated 07.08.2025, passed by Ld. CIT(A)/NFAC, Delhi u/s 250 of the Income Tax Act, 1961 [hereinafter referred to as, “Act”] for A.Y. 2014-15 in Appeal No. NFAC/2013-14/10209669. The Assessment was framed by the Assessing Officer [for short, “AO”] u/s 147 r.w.s. 144 r.w.s 144B of the Act, vide order dated 22.03.2022.
The assessee has raised following grounds of appeal:
“a. That on the facts and in the circumstances of the case and in law the Ld. CIT(A) at NFAC erred in confirming the order imposing penalty under section 271(1)(c) of the Act, 1961 holding the assesse guilty of concealment of income.
b. The above action being arbitrary, fallacious, unwarranted and illegal must be quashed with directions for appropriate relief.”
Brief facts are that the assessee was a non-filer for A.Y 2014-15 but had made high value transactions as per the data available with the department. Accordingly, the case was reopened and assessment completed u/s 147 r.w.s 144 r.w.s 144B at an income of Rs. 45,01,317/- vide order dated 22.03.2022. Subsequently, penalty of Rs. 13,48,556/- u/s 271(1)(c) for concealment of income was also levied @ 100% of tax sought to be evaded. Aggrieved, the assessee preferred an appeal before Ld. CIT(A) who dismissed the same vide order dated 07.08.2025. Further aggrieved, the assessee is in appeal before the Tribunal.
Before us, Ld. AR has submitted a copy of the order of the Hon’ble Co-ordinate Bench in the quantum appeal whereby the matter has been remanded to the Ld. CIT(A) for fresh adjudication on merits. He has, therefore, requested that the related penalty may also be restored to Ld. CIT(A) for decision afresh, together with the quantum appeal. Ld. DR has not objected to the said proposition.
After hearing both the parties, we deem it appropriate to remand the matter to Ld. CIT(A) to adjudicate afresh in the light of decision in the quantum appeal pending before him.
In the result, appeal of the assessee is allowed for statistical purposes.