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Judgment
PER AMITABH SHUKLA, AM
This appeal filed by the Assessee is directed against the order of Ld. Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre, New Delhi, dated 24.12.2025 arising out of assessment order dated 21.09.2023 passed under section u/s 270A of the Act for the Assessment Year 2018-19. The word ‘Act’ herein this order would mean Income Tax Act, 1961.
The only issue arising in the present appeal is regarding the invocation of penalty provisions 270A in the case of the assessee. The ld. Counsel submitted that in its case, the ld. Assessing Officer had made a quantum addition of Rs.52,49,578/- on account of ShortTerm Capital Gains. The matter had traveled to this Tribunal which vide ITA No.1129/Del/2026 has set-aside the issue for assessment de novo to the file of the Ld. Assessing Officer.
Heard rival parties in the light of material available on records.
It is an undisputed facts on records that the quantum addition has been set-aside to the Assessing Officer’s file for de novo assessment. It is trite law that a penalty of concealment can only survive in the event of a quantum addition available against the assessee. In the present case, the same has been set-aside to Assessing Officer and therefore the penalty cannot survive on its own. We therefore remit the issue to the file of the Assessing Officer for reconsideration afresh in the light of his decision on the issue of quantum addition.
In the result, the appeal of the assessee is allowed for statistical purposes.