Dismissing the appeal of the revenue the Court held that penalty proceedings are an outcome of assessment and if the assessment itself is debatable, the penalty proceedings cannot survive. The levy of penalty cannot be a matter of course. It can only be levied in cases where the concealment of income has been proven. If the quantum order itself has been challenged and the court has framed substantial questions of law in the appeal preferred by the assessee, it shows that the alleged concealment is not final and the issue is disputable. Consequently, the penalty levied by the Assessing Officer cannot survive in such a case. (Referred  CIT v. Nayan Builders and Developers (2014) 368 ITR 722 (Bom)(HC)  Gujarat CIT v. Prakash S.Vyas (2014) 272 CTR 353 / (2015)  232 Taxman 352 (Guj)(HC), CIT v. Advaita Estate Development Pvt Ltd (ITA No. 1498 of 2014 dt 17 -2 2017 (Bom(HC) www.itatonline.org  CIT v. Liquid Investment and Trading Co (ITA No. 240/2009 dt 5 -10 2010 (Delhi)(HC) ,CIT v. Aditya Birla Power Co Ltd (ITA No. 851 of 2014 dt 2-12-2015(Delhi)(HC) , CIT v. Liquid Investment Ltd  (ITA No. 240/2009 dt 5-10-2010 (Delhi)(HC) CIT v. Thomson Press India Ltd (ITA No. 426, 440 /2013 dt 3-3 -2014 (Delhi ) (HC) ( AY. 2004-05, 2005-06)